Fundbox, a San Francisco, CA-based cash flow optimization tool for small businesses, raised $40m in Series B financing.
The round was led by General Catalyst Partners with participation from existing investors Khosla Ventures, Shlomo Kramer, Blumberg Capital and new investor NyCa Investment Partners. In conjunction with the funding, Hemant Taneja from General Catalyst joined Fundbox’s Board of Directors.
The company, which also received a new credit facility from Silicon Valley Bank and other institutions, will use the funds to further accelerate its expansion, innovation and product development, as well as increase its marketing efforts to reach small businesses.
Led by Eyal Shinar, chief executive officer, Fundbox provides small businesses with a cash flow optimization platform that taps into numerous data signals to assess customers and invoices for risk and choose which invoices to clear. It can be embedded directly into the workflow of a business, through existing accounting, e-invoicing and payroll software.