SAN FRANCISCO, Dec. 10, 2015 /PRNewswire/ -- Fundbox, the leading cash flow optimization platform for small businesses, today announced that it has been named one of the most influential financial technology (Fintech) companies of 2015 by Forbes magazine and has secured a spot on the first annual Fintech 50 list.
Fundbox was named to this list, along with other tech startups, that have transformed the way money is earned, saved, spent, invested and borrowed. The Forbes list represents the most powerful companies that have created massive disruption throughout the entire financial ecosystem. In the first nine months of 2015, Fintech garnered $10.5 billion in investments from both Wall Street and venture capitalists.
"We are humbled by this recognition from Forbes, but not surprised," stated Eyal Shinar, chief executive officer, Fundbox. "The entire Fundbox team has worked tirelessly to build a transformative solution that eliminates one of SMBs biggest pain points, cash flow gaps. Today's announcement further underscores the market demand for Fundbox B2B solutions."
Fundbox has created a new finance category with its advanced invoice underwriting platform and machine learning capabilities. The company puts small business owners in control of their cash flow by offering simple, one-click financing of outstanding invoices in as little as 50 seconds. This year, it underwrote its 22 millionth invoice while completing its 7th consecutive quarter of at least 2x quarter-over-quarter revenue growth. The company also recently raised an additional $50 million in equity funding led by new investor Spark Capital Growth with participation from Bezos Expeditions (the personal investment arm of Jeff Bezos), Ashton Kutcher and Guy Oseary's Sound Ventures, Entree Capital and existing investors: Khosla Ventures, General Catalyst Partners, Shlomo Kramer, and Blumberg Capital and recently closed a successful $40 million Series B funding round in March 2015.
To compile the inaugural 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. Candidates were required to have operations in the U.S. and a viable product in the marketplace.
Fundbox is an innovative Fintech company with a mission to help small businesses grow and achieve their full potential. The company leverages deep data analytics enabling businesses to accelerate cash flow against their outstanding invoices. The Fundbox risk engine taps into numerous data signals within its network to assess customers and invoices for risk automatically and instantly, allowing small businesses to choose which invoices to clear with a single click. Leading Silicon Valley entrepreneurs, finance veterans, and venture capitalists, including Spark Capital Growth, General Catalyst Partners, Khosla Ventures, SV Angel, Jeff Bezos, Sound Ventures, former CitiGroup CEO, Vikram Pandit, and Thomson Reuters CEO, Thomas Glocer, back the company.
JCUTLER media group