Allianz X invests in B2B payment and credit network Fundbox
Allianz X, the digital investment unit of the Allianz Group, announced 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.