Fundbox, a San Francisco, CA-based AI-powered financial platform for small businesses, closed a $100 million Series D funding round at a valuation of $1.1 billion.
The round was led by the Healthcare of Ontario Pension Plan (HOOPP), joined by existing investors Allianz X, Khosla Ventures, 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.
Company: Fundbox, Inc
Round: Series D
Funding Month: December 2021
Lead Investors: Healthcare of Ontario Pension Plan (HOOPP)
Additional Investors: Allianz X, Khosla Ventures, The Private Shares Fund, Allianz X, Khosla Ventures, The Private Shares Fund, and BNY Mellon funds
Company Website: https://fundbox.com/
Software Category: AI-powered financial platform
About the Company: 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.