Startup Fundbox said Thursday it had completed a $50 million funding round led by Spark Growth Capital with the participation of investors including actor Ashton Kutcher and Amazon founder Jeff Bezos’ private investment fund.
- Two Israeli-U.S. Startups Raise $56 Milion
- West Bank Gets Facility for Startup Entrepreneurs
- Mazal Tov: Mila Kunis Gives Birth to Baby Girl
The injection follows a $40 million round in March, bringing the total investment in the company to $107.5 million.
Fundbox, which is based in San Francisco and has its development center in Tel Aviv, was founded by Israelis to help small businesses manage their cash flow. The investors this time around were Kutcher, Bezos Expeditions, Israeli-American talent manager Guy Oseary and previous investors including Israeli Shlomo Kramer.
Founded in 2013 by Israelis Eyal Shinar, Yuval Ariav and Tomer Michaeli, Fundbox uses analytics to help businesses mesh outlays with revenues.
Before founding the company, Chief Executive Shinar was a partner in venture capital firm Battery Ventures. In August 2013, Fundbox began offering credit lines to small businesses based on their receivables. The firms pay Fundbox a computer-generated commission based on the level of risk represented by the cash advance.
Fundbox says its revenues have at least doubled for seven quarters, with the company boasting 15 million customer accounts.
In other fundraisings, Argus, a Tel Aviv-based cybersecurity firm, said it had raised $26 million in its second funding round. The company, whose technology prevents the hacking of automobile computer systems, said its investors included Canadian car parts supplier Magna International, German insurance giant Allianz, Japan's SBI Group and existing investors including RAD Group founder Zohar Zisapel.
Argus has overseas offices in Michigan, Silicon Valley, Germany and Japan.