Behalf, a NYC-based provider of working capital solutions for small and medium-sized businesses, secured $150m in debt financing.
The round was led by a private investment fund managed by Soros Fund Management, with participation from Viola Credit. An equity investment was also made by Viola Credit and a private investment fund managed by Soros Fund Management.
Led by Benjy Feinberg, Founder and CEO, Behalf leverages data and technology to assess the credit worthiness of SMBs that are overlooked and underserved by traditional banks and partners with sellers to offer their customers flexible financing at the point of sale.
The company’s solution allows sellers to implement or expand e-commerce capabilities, close more deals, increase average order value, and de-risk themselves from the collections process.
In 2017, Behalf announced its partnership with FinWise Bank, a Utah-chartered bank located in Sandy, Utah, member FDIC, and counts some of the biggest names in B2B, such as Lenovo, Best Buy and PCM, in its network of accepting partners.
The company has an office in Tel Aviv.