SAN FRANCISCO, Nov. 7, 2016 /PRNewswire/ -- For the second consecutive year, Fundbox, the leading cash flow optimization tool for small businesses (SMBs), has been recognized by Forbes as one of the most important financial tech companies on the magazine's 2016 Forbes Fintech 50 list. The list showcases companies who have developed technology to remake every aspect of how we earn, borrow, save, invest, and spend money.
This honor caps a record year for Fundbox as it reached over 50,000 small businesses on its platform and underwrote its 39 millionth invoice. The company also launched the Fundbox mobile app, increased the Fundbox Credit™ limit for customers up to $100K, and introduced more flexible repayment terms.
"We are humbled once again by this recognition from Forbes," stated Eyal Shinar, chief executive officer, Fundbox. "Being named on the annual Fintech 50 list two years in a row further validates our approach to helping level the playing field for small businesses by providing them with well-designed tools to better manage their cash flow."
The Forbes Fintech 50 list represents the most powerful companies that have created massive disruption throughout the entire financial ecosystem. To compile the list of the Forbes Fintech 50, Forbes reporters solicited information from more than 300 startups and then interviewed more than 150 CEOs and founders, as well as independent industry experts.
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. The company's tech-driven tool employs cutting edge underwriting algorithms and deep learning capabilities to instantly advance SMB invoices, helping to eliminate their cash flow challenges and grow their business.
Fundbox has raised over $100 million in capital from leading Silicon Valley investors such as Khosla Ventures, General Catalyst Partners, Spark Capital Growth and Jeff Bezos. The company leverages cutting-edge machine learning technology and data science to create better financial options for the sector.
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.