Daily News: September 14, 2015

Fundbox Secures $50MM in Additional Funding

According to a Forbes report, San Francisco, CA-based Fundbox, a new, technology driven funding source for small businesses, raised $50 million in a new round of financing from new investors Spark Capital Growth and Bezos Expeditions, the personal investment arm of Amazon CEO Jeff Bezos.

Forbes noted what sets Fundbox apart from other lenders in the space is it provides advances, instead of loans, to small businesses by imbedding its technology into the business owner’s existing everyday workflow.

Forbes describes the product as using a cloud-based dashboard that connects to a small business owner’s invoicing software, which allows it to be instantly paid on invoices for a fee.