Fundbox Closes $100M Series D Funding


Fundbox, a San Francisco, CA – based AI-powered financial platform for small businesses, closed a $100M Series D funding round at a valuation of $1.1 billion.

The round was led by Healthcare of Ontario Pension Plan (HOOPP), joined by existing investors Allianz X, Khosla Ventures, and The Private Shares Fund, and brought in new investors including Arbor Waypoint Select Fund and a suite of BNY Mellon funds managed by Newton Investment Management North America.

The company intends to use the funds to continue to expand operations and its business reach.

Led by CEO Prashant Fuloria, Fundbox is an AI-powered financial platform that provides small businesses with access to financial tools and resources. Flex Pay is designed to provide small business owners with additional payment options and flexibility for business expenses, and Fundbox Line of Credit customers now get three extra days to pay those expenses. Repayment options include a bank account, credit card, or Line of Credit draw, providing small business owners with another tool to buy now, pay later.

The company has connected with over 325,000 businesses, enabling more than $2.5B in working capital, and invested $100M into AI technology.

Additionally, Fundbox is expanding its executive team with new hires in partnerships, growth, sales and operations, and finance. The new hires include:

  • Khary Scott, VP and Head of Partnerships, to oversee the company’s partnerships and business development approach. He joins after 15 years at Capital One, where he led a team that executed partnerships that totaled over $20B in assets.
  • Renuka Nayani, VP of Finance, to lead the Strategic Finance, Financial Planning & Analysis (FP&A), and corporate development teams. She previously spent six years leading the Personal Loans FP&A team at Oportun.
  • Rina Jariwala, VP of Sales and Operations and GM of Dallas, who joins Fundbox with over 19 years of leadership experience in the valuation and credit space, including roles at Countrywide Home Loans, Bank of America, and CoreLogic.
  • Shawn Haigh, VP of Growth Marketing, who joins after 16 years at Capital One, where he led growth initiatives across consumer and business banking organizations.