Careers at Fundbox
Fundbox allows small business owners to focus on running their business with a service that buys outstanding invoices from the client, then pays the full amount to the client in as little as one business day. By providing payment when the client needs it the most, small business owners can focus on improving their company without the hassle of waiting for late, or long-term payments.
Fundbox offers two payment options.
- 12 Week Repayment: For an invoice of $1000 payment is approximately $89 weekly, with the fees being $83 of the invoice value and $6 in additional fees. The total fee amount may vary but information regarding a change is known before a commitment is made, for both plans.
- 24 Week Repayment: For an invoice of $1000 payment is approximately $48 weekly, with the fees being $42 of the invoice value and $6 in additional fees.
Fundbox began in 2013; the original concept of the financial platform was inspired by the CEO and co-founder, Eyal Shinar, whose mother struggled with late payments while running her business in Israel. The three founders of the business are Eyal Shinar, Tomer Michaeli, and Yuval Ariav.
Originally, right after being founded the business was running in stealth mode until a year later in 2014 when the company announced it had raised $17.5 million in the Series A funding round. Since Fundbox emerged from stealth mode thousands of business owners have begun to use the platform.
By 2015 Fundbox improved upon its original dashboard by releasing a new one for its platform. Over the course of two years the company received and listened to feedback from customers to define the most simplistic and effective interface for their services. Upon release the service offered the extra functionality of being mobile ready, separated tabs making it easier to find key information, and provided future payment information on the home screen of the dashboard.
Three years after its launch, the company has won awards for their product which unleashes the full potential of businesses by advancing their outstanding invoices with just one click. The financial platform uses big data, behavioral analysis, and finance theory to determine the fees associated with the short-term loans that they offer.
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