Fundbox

Fundbox

FoundedAugust 2013 in San Francisco, United States
FoundersEyal Shinar, Tomer Michaeli, Yuval Ariav
HeadquartersSan Francisco, California
Websitefundbox.com
  • Fundbox offers credit and payment solutions to small businesses.
  • It uses big data analytics, engineering, and predictive modeling to help optimize cash flow for small businesses.
  • Services
    • Line of credit
      • The credit is intended for use by small businesses in the business-to-business space seeking to optimize cash flow and continue to successfully run their businesses while waiting for accounts receivable invoices to be paid.
      • This enhancement in cash flow is intended to help companies maintain consistent operations and make investments such as new equipment or payroll.
      • Fundbox’s customers are typically B2B small businesses with 20 employees or fewer.
      • As of June 2021, the solution was integrated into QuickBooks, FreshBooks, Xero and Indeed.
    • Term Loan
  • Use
    • To establish a Fundbox account, users are required to link either their accounting platform or their business bank account with Fundbox.
    • There is no fee for this registration, connection, and approval process.
    • Fundbox then uses data analytics tools such as data science engines and machine learning algorithms to determine a credit line.
    • A typical credit line can vary between $2,500 and $150,000.
    • Before clearing an invoice, Fundbox customers can see the fee, which is based on the risk and probability of repayment.
    • Once a customer draws, Fundbox deposits the money directly into the customer's bank account between 24 and 48 hours.
  • Repayment
    • Customers can choose between 12 or 24 week repayment.
    • Repayment is completed through weekly payments that are automatically debited from a customer's bank account.

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