MUFG Innovation Partners has tripled its investment in Fundbox’s Series C round, bringing total equity funding in the round to almost $200 million.
Israeli B2B payment and credit network company developer Fundbox has raised $20 million from MUFG Innovation Partners, the corporate venture capital arm of Mitsubishi UFJ Financial Group, Japan's largest financial group and the world's fourth-largest bank holding company. With this financing, MUFG Innovation Partners has tripled its investment in Fundbox’s recent Series C round, bringing the total equity funding in the round to almost $200 million.
Fundbox founder and CEO Eyal Shinar said, "Our investments in real-time data access, machine learning, and rigorous credit management have helped us react very quickly to this unexpected crisis while continuing to serve the majority of our customers. The funding and support from sophisticated strategic investors like MUFG will enable us to continue investing in our technology platform and customer experience, allowing us to exit this pandemic and economic crisis stronger than ever before."