SAN FRANCISCO, Oct. 19, 2016 /PRNewswire/ -- Goldman Sachs (NYSE: GS) is recognizing Fundbox Founder and CEO, Eyal Shinar as one of the 100 Most Intriguing Entrepreneurs of 2016 at its Builders + Innovators Summit in Santa Barbara, California. Goldman Sachs selected Shinar as one of 100 entrepreneurs from multiple industries to be honored at the two-day event.
Fundbox has simplified and radically improved the way that small businesses get paid by solving one of the biggest pain points faced by small businesses: maintaining positive cash flow. Under Shinar's leadership, Fundbox has developed a tech-driven tool that employs advanced underwriting algorithms and deep learning capabilities to instantly advance funds tied up in outstanding invoices, helping business owners eliminate their cash flow challenges and grow their business. The product gives small businesses access to capital by the next business day and only requires that they pay for what they use, making it a great alternative to traditional financial products.
"The Goldman Sachs honor as one of the 100 most intriguing entrepreneurs of 2016 is humbling," said Eyal Shinar, founder and chief executive officer, Fundbox. "This recognition is a huge testament to the Fundbox team and our laser focus on helping small businesses thrive by offering them previously unavailable financial solutions."
"We are honored to recognize Eyal Shinar as one of the most intriguing entrepreneurs of 2016," said David Solomon, co-head of investment banking at Goldman Sachs. "This is the fifth year that we've hosted the Builders + Innovators Summit where emerging business leaders gather to discuss their common interests in building thriving organizations."
For more than 145 years, Goldman Sachs has been advising and financing entrepreneurs as they launch and grow their businesses. In addition to honoring 100 entrepreneurs, the summit consists of general sessions and clinics led by Goldman Sachs experts, seasoned entrepreneurs, academics and business leaders as well as resident scholars.
Shinar is an expert in financial services and technology. Prior to his current position as CEO and founder of Fundbox, he served as a vice president at Battery Ventures where he led many projects and investments in the areas of finance, machine learning and software-as-a-service. Additionally, Shinar was one of the first employees of Old Lane, a $5.5 billion New York-based global hedge fund (later acquired by Citigroup), and also worked for Castle Harlan, a leading $6 billion NYC-based buyout firm. Shinar earned his MBA from The Wharton School of Business at the University of Pennsylvania.
Fundbox has raised over $100 million in capital from leading Silicon Valley investors such as Khosla Ventures, General Catalyst Partners, and Spark Capital Growth. The company leverages cutting-edge technology and data science to create better financial options for the sector. Fundbox currently serves more than 50,000 small businesses and has underwritten more than 39 million invoices.
For more information on Fundbox, please visit www.Fundbox.com.
Fundbox is the leading platform for small and medium-sized businesses to manage and optimize cash flow. Through its advanced data science and analytics capabilities, Fundbox taps into numerous data signals to assess customers and invoices for risk automatically and instantly. Small and medium-sized business owners are able to unlock capital tied up in outstanding invoices with a single click - funds show up in their bank account in as little as 24 hours. Leading Silicon Valley entrepreneurs, finance veterans, and venture capitalists, including Spark Capital Growth, Bezos Expeditions (the personal investment arm of Jeff Bezos), General Catalyst Partners, Khosla Ventures, SV Angel, former CitiGroup CEO Vikram Pandit, and other prominent investors back the company.