Fundbox receives new funding from MUFG

Thursday 28 May 2020 11:57 CET | News

Japan-based bank holding company Mitsubishi UFJ Group (MUFG) has invested USD 20 million in Israel-based B2B payment and credit network Fundbox.

The investment was made through the venture capital arm MUFG Innovation Partners. Therefore, the company, with this latent financing, has tripled its investment in Fundbox’s recent Series C round.

According to Verdict, despite incurring losses due to COVID-19, Fundbox has continued to grow its customer network, originating credit for existing customers, and enabling faster payments for B2B suppliers.

The latest funding round from MUFG brings the total amount raised by Fundbox to date to USD 200 million.

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Keywords: MUFG, Israel, B2B, payments , Fundbox, Japan, banks, Mitsubishi UFJ Group, credit, network, MUFG Innovation Partners
Categories: Banking & Fintech
Countries: Japan
This article is part of category

Banking & Fintech