Fundbox, a San Francisco, CA-based cash flow optimization tool for small businesses, raised an additional $50m in equity funding.
The round was led by new investor Spark Capital Growth with participation from Bezos Expeditions (the personal investment arm of Jeff Bezos), Ashton Kutcher and Guy Oseary’s Sound Ventures, Entrée Capital and existing investors Khosla Ventures, General Catalyst Partners, Shlomo Kramer, and Blumberg Capital.
The company, which closed a $40m Series B funding round in March 2015, intends to use the funds to accelerate its growth, while continuing to invest in product development and innovation.
Led by Eyal Shinar, chief executive officer, Fundbox leverages Big Data analytics, predictive modeling, engineering and design to allow small business to control their cash flow by offering financing of outstanding invoices.
The tool is embedded directly into the workflow of a business, through existing accounting and e-invoicing software, delivering instant advances of outstanding invoices.
The company recently launched its second product, Credit-as-a-Service, which allows a third-party to embed Fundbox functionality directly into the workflow of its application.