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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