Since the start of the COVID-19 pandemic, struggling SMEs and SMBs have found it more difficult to find the capital they need to survive. At the same time, alternative lenders like fintechs have had to adapt their plans in order to continue being a reliable source of financing. Such creativity will still be needed in 2021 as more opportunities arise.
Fundbox, a B2B payment and credit network, selected LoanPro, a cloud-based loan servicing platform, to accelerate the development of flexible credit management capabilities.
As fintech companies start counting their birthdays in the double-digits, both traditional lenders and regulatory bodies have had to accept the world rapid online lending has created. Ken Brause of OnDeck, Eyal Lifshitz of BlueVine and Sebastian Rymarz of Fundbox sat down with ABF Journal to take stock of the past decade or so in the fintech world, discuss some of the changes seen in 2018 and speculate on what the future may hold for the industry.
6th Avenue Capital, Bluevine and Fundbox have joined the Innovative Lending Platform Association, an organization made up of the nation’s leading online small business lending platforms
Online factoring platform Fundbox added former Google/Facebook executive Prashant Fuloria as chief product officer, Oren Katz, as vice president of R&D, Michal Cieplinski, as general counsel and chief compliance officer and Johnson Ma as vice president of Business Development.
Forbes reported that small business invoice finance company Fundbox raised $50 million in a new round of financing from new investors Spark Capital Growth and Amazon CEO Jeff Bezos.