Fundbox, a fintech focused on SMBs, raises $100M at a $1.1B valuation

Fundbox, a company that offers loans and financial products to small businesses, announced today it has raised $100 million in a Series D round at a valuation of $1.1 billion.

Or more simply, the company aims to solve SMBs’ working capital needs through its credit and payments offerings. It is particularly focused on B2B-focused small businesses.

Healthcare of Ontario Pension Plan (HOOPP) led Fundbox’s Series D financing, which brings the company’s total equity raised to $410 million since its 2013 inception. Existing backers Allianz X, Khosla Ventures and The Private Shares Fund joined new investors including Arbor Waypoint Select Fund and a suite of BNY Mellon funds managed by Newton Investment Management North America.