Sunday, September 13, 2015
Find Out Why 20,000 Small Businesses Count on Alternative Lender "Fundbox" for Funding
Fundbox just increased their funding by another $50 million
It was just six months ago that alternative lender Fundbox gained $40 million in venture funding. They recently announced they now have an additional investment of $50 million, which means more money for small businesses.
Here's how it works
Fundbox, a startup alternative lender, obtains investment money from venture capitalists and other institutional investors. The investment funding is then used for the development of new companies and technologies. It's an opportunity for small businesses to get short-term cash to keep their cash flow going, and for investors to also make a profit.
One of the Fundbox investors is film and television star Aston Kucher who, with his partner Guy Oseary started an investment fund earlier this year called Sound Ventures. Kutcher and other investors like Entrée Capital, General Catalyst, and Blumberg Capital have made it possible for Fundbox to help more and more small businesses.
Their program works by assessing invoices from small business customers and depositing the amount needed directly into their account. Invoice sizes can be up to $10,000, and businesses have 12 weeks to pay back the loans. The company now has 20,000 small business customers.
Read more by visiting techcrunch.com/2015/09/10/fundbox-secures-50-million-more-to-power-small-businesses/