ISRAEL - Startup Fundbox Raises $326 Million for High Tech

Arno Froese

Israeli fintech start-up Fundbox has raised $176 million in a Series C funding round and secured a $150 million credit facility to expand its business-to-business (B2B) payment and credit network service, the company announced.

Fundbox said the investments totaling $326m. will enable more companies to use its machine learning and big data-driven online lending platform, boosting the start-up’s stated goal of “democratizing access to credit and credit services.”

“The status quo for B2B transactions is uncertain cash flow and antiquated payment systems, which stifles business growth,” co-founder Eyal Shinar said. “The remedy to this uncertainty is the ability to facilitate quick risk decisions, faster payments and more flexible terms, so our customers have greater predictability related to their revenue and cash flow. This new investment round validates the market opportunity and that our team is on the right path, as we continue to focus on transforming B2B commerce for the better.”

“Fundbox is transforming the entire B2B landscape by freeing up trillions of dollars stuck within the Net Terms Economy,” said Arbor Ventures founder and manager partner Melissa C. Guzy. “In order for B2B commerce to meet the needs of a 21st century economy, transactions must happen in real time. The team at Fundbox has a very clear vision of the future of B2B commerce, which is why this is a team we chose to back.”

-www.jpost.com, 24 September 2019

Arno's commentary

Israel’s capacity in the creative field of high-tech has gathered many headlines throughout the world.

Again, we see Israel is totally different when compared to any country in the world—particularly its Arab neighbors, of whom most can barely keep their country functioning. There is little to no news regarding high-tech intellectual property (IP) being created in these countries.

Here we need to quote Isaiah 62:1: “For Zion’s sake will I not hold my peace, and for Jerusalem’s sake I will not rest, until the righteousness thereof go forth as brightness, and the salvation thereof as a lamp that burneth.” That is Israel’s future.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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