Behalf, a New York City-based alternative financing provider specializing in working capital credit for small business customers, raised an additional $27 million in Series C financing.
The round was led by new investor Viola Growth with participation from previous investors Sequoia Capital, Spark Capital, MissionOG, and Vintage. In conjunction with the funding, Harel Beit-On, Viola Growth Founder and General Partner, will join the Behalf Board.
The company intends to use the funds to increase investment in sales, business development and marketing, and support continued product innovation.
Led by Benjy Feinberg, CEO, Behalf is a commercial payment platform specializing in providing small businesses instant point of sale terms at vendors of their choice. The solution provides instant point of sale financing for purchases up to $50k, pays merchants directly within 1 business day, then allows customers to create a flexible payment schedule on each individual transaction.
Customers can use their purchasing line throughout Behalf’s network of integrated partners, as well as at MasterCard accepting businesses.
The company, which also has an office in Tel Aviv, has also added:
– Jorgen Bocklage as CFO;
– Brian Kleinberg to lead Strategy;
– Crystal Eastman as Head of Marketing; and
– Yaniv Shaya, to lead Engineering and Risk.