Fundbox, a San Francisco, CA-based B2B payment and credit network, raised $20m in equity funding.
Backers in the round, which brings the total capital raised in their Series C round from September 2019 to almost $200m, included MUFG Innovation Partners, the corporate venture capital arm of Mitsubishi UFJ Financial Group.
The company intends to use the funds to continue to expand its business reach.
Led by CEO Eyal Shinar, Fundbox is a B2B payment and credit network which allows sellers of all sizes to increase average order volumes and improve close rates by offering more competitive net terms and payment plans to their SMB buyers. The company is located in San Francisco, CA, Dallas TX and Tel Aviv, Israel.