Allianz X invests in Fundbox, the world’s first B2B payment and credit network

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Allianz X, the digital investment unit of the Allianz Group, announced today an investment in the US-American B2B platform Fundbox as part of a Series C financing round. Headquartered in San Francisco, Fundbox deploys big data analytics, engineering, and predictive modelling to help small businesses optimize their cash flows with outstanding invoices.
 
The investment in Fundbox is Allianz X’s fifth transaction in the Fintech sector. The Allianz X portfolio already includes Wealthsimple, N26, C2FO and the Gojek digital platform.

The Series C round was oversubscribed and raised 180 million U.S. dollars in growth funding for Fundbox. Additionally, the company secured a 150 million U.S. dollars line of credit. Fundbox will use the new funds to further accelerate the growth of its B2B business.
“Fundbox has demonstrated a track record of success in the competitive B2B Fintech market by building the first payment and credit network,” said Nazim Cetin, CEO of Allianz X. “Our investment underscores the belief that Fundbox will continue setting itself apart in e-commerce by employing technologies that allow corporate customers to focus on growing their business. We look forward to collaborating with Fundbox and supporting its continued growth in an expanding 21 trillion U.S. dollars market.”

Founded in 2013, Fundbox uses machine learning models as part of its credit-decision process.

"Currently, the growth of many smaller companies is hampered by uncertain cash flows and outdated payment systems," said Eyal Shinar, Founder and CEO of Fundbox. "Business owners who do not know when outstanding invoices will be paid may have to forego or postpone important investments for their business. This is where our solutions come in. These enable payment management to be optimized on the basis of rapid risk decisions and flexible options. This gives companies more planning security in terms of liquidity and investments. The successful financing round shows that we are on the right track and in a position to further expand our market opportunities."

About Fundbox

Fundbox is a leading financial technology company and has launched the world’s first B2B payments and credit network. With Fundbox, sellers of all sizes can quickly increase average order volumes (AOV) and improve close rates by offering more competitive net terms and payment plans to their SMB buyers. With heavy investments in machine learning and the ability to quickly analyze transactional data, Fundbox is reimagining B2B payments and credit products in new category-defining ways.

Fundbox has received numerous awards for Fintech innovation including the prestigious Forbes Fintech 50, Forbes Billion Dollar Startup To Watch, Fintech Breakthrough Awards for Best B2B Payments Platform and the Atlas Award for Best Israeli Startup, among others.

About Allianz X

Allianz X is the digital investment unit of the Allianz Group. Allianz X invests in and partners with digital frontrunners in the ecosystems relevant to insurance. Allianz X is one of the pillars of Allianz’s digital transformation strategy, and provides an interface between Allianz entities and the wider digital ecosystem.

The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million retail and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing 766 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2019, over 147,000 employees achieved total revenues of 142 billion euros and an operating profit of 11.9 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

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Gregor Wills
Allianz SE
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