Fundbox Announces $176 Million in New Funding Raised

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Fundbox, a startup that uses technology to build growth for businesses by accelerating payments and credit, announced it has secured new funding.

The startup raised $176 million in Series C funding, with Allianz X, Cathay Innovation, Arbor Ventures, Healthcare of Ontario Pension Plan, and GMO Venture Group joining existing venture capital firms Khlosla Ventures, Spark Capital Growth and General Catalyst.

Startup funding tracking website Crunchbase says Fundbox has thus far raised more than $433 million.

Fundbox saves the day for small businesses and startups by providing clients with a line of credit when real funds (not invoices) are slow in coming. Fundbox also helps during slow periods such as holidays or emergencies when money is scarce.