SAN FRANCISCO, March 22, 2016 /PRNewswire/ -- Fundbox, the leading cash flow optimization tool for small businesses, has won the Gold award in the Small Business Innovation category at the PYMNTS 2016 Innovator Awards. This award recognizes Fundbox as a leader and innovator in the small business technology and payments industry.
Fundbox is an innovative FinTech company with a mission to help small businesses grow and achieve their full potential with the help of cutting edge technology. The company leverages deep learning and 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 and get paid on their own terms.
"By taking a customer-first approach to solving one of the biggest challenges small businesses face, Fundbox continues to demonstrate itself as a leading innovator in the intersection of finance, UX and technology," said Eyal Shinar, founder and chief executive officer, Fundbox. "This is a great honor for the whole Fundbox team and we are grateful to have won the gold medal given the innovative group of finalists."
The PYMNTS Innovator Awards were held on March 17 at Harvard University. The award program is of the most prestigious recognition in the payments industry and boasts a submission, selection and voting process that is unmatched in intellectual rigor and competitive energy. This year's theme: Payments at the Edge, focused on how payments are enabling commerce at the endpoints of many different ecosystems and opportunities.
"The PYMNTS Innovators Awards is one of the most inspiring aspects of The Innovation Project," said Karen Webster, CEO of Market Platform Dynamics and President of PYMNTS.com. "It puts innovation front and center and serves as a very visible reminder of the creative spirit and energy that will drive our massively dynamic payments and commerce ecosystem forward."
Previously at the PYMNTS 2015 Innovator Awards, Fundbox was honored with the Gold award for Best Credit Innovation and received the Silver for Best Newcomer and Best Small Business Innovation for its Freshbooks partnership. In 2014, Fundbox also won Gold for Best Small Business Innovation.
About Fundbox: Fundbox leverages deep-learning technology and data analytics to accelerate cash flow and clear invoices for small businesses. 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. Technology and finance industry veterans Eyal Shinar, Yuval Ariav and Tomer Michaeli founded Fundbox in 2012. 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.