SAN FRANCISCO, May 24, 2018 /PRNewswire/ -- Today Fundbox, a leader in credit and payments for small businesses serving other businesses (SMB2B), announced that it has been selected as winner of the "Best Overall Business Lending Company" award by FinTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the global FinTech market today.
"We are delighted to recognize Fundbox for one of our program's marquee awards, the Best Overall Business Lending Company award, an uber-competitive award category for our program with many compelling companies nominated," said James Johnson, Managing Director, FinTech Breakthrough. "Fundbox stood out from the competition with its artificial intelligence-based underwriting platform. By fully automating the underwriting process with a data-driven risk model, Fundbox promises to underwrite faster, more cost-effectively and with greater accuracy than many other lenders – opening up lending possibilities for more customers. Congratulations to the entire Fundbox team for their industry recognition with our 2018 FinTech Breakthrough Award distinction."
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2018 FinTech Breakthrough Awards program attracted more than 3,000 nominations from across the globe.
"We are excited to be recognized by the FinTech Breakthrough awards team for this wonderful honor," said Greg Powell, Head of Brand and Product Marketing at Fundbox. "At Fundbox, our mission is to simplify and improve the way that small businesses pay and are paid. Small businesses are the backbone of the U.S. economy, so our team is driven to deliver services that can help them reach their full potential."
Fundbox uses proprietary technology that allows the company to tap into multiple data sources, used to assess risk and to extend credit to approved SMBs. The result is an extremely fast, transparent, and intuitive experience that customers love. The data Fundbox collects goes into its Small Business Graph, where the company's artificial intelligence models quickly analyze the customer, their financial transactions, and the organizations with which they do business. This approach gives Fundbox a more dynamic and deep view of the financial health of the small businesses the company serves on a daily basis. To date, Fundbox works with over 90,000 SMBs but can see 13 million total businesses on the Small Business Graph.
Our mission at Fundbox is to simplify and improve the way that small businesses pay and get paid. The company uses cutting-edge technology, data science, and common sense to give small businesses greater access and choice to financial solutions that are intuitive, fast, and transparent so the business owner can remain focused on running their business. Fundbox provides credit limits up to $100,000 and can transfer funds as soon as the next business day. Because of us, small businesses across the U.S. have more control over their finances and are better able to succeed and grow.
Fundbox is funded by 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. Fundbox was recognized as a Billion Dollar-Startup to watch in 2017 by Forbes. For more information, please visit fundbox.com.
About FinTech Breakthrough
FinTech Breakthrough, part of the Tech Breakthrough Awards organization, is an independent awards and recognition platform devoted to honoring excellence in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the achievements of FinTech companies and products in categories including Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit www.FinTechBreakthrough.com.
Tim Donovan, Head Of Corporate Communications