Fundbox said it raised $176 million in Series C equity and also secured a $150 million credit facility to grow its B2B payments and credit network. 

The company said the funding round was oversubscribed and included a diverse range of investors, including Allianz X, Healthcare of Ontario Pension Plan, HarbourVest, 9 Yards Capital, Hamilton Lane, SEB Private Equity, Cathay Innovation, Synchrony, MUFG Innovation Partners, Recruit Strategic Partners, GMO Internet Group and Arbor Ventures. 

"The status quo for B2B transactions is uncertain cash flow antiquated payment systems, which stifles business growth," Eyal Shinar, founder and CEO of Fundbox, said in a press release. "If you're a business owner and don't know when you're getting paid next or whether you have the funds to complete a transaction, you lose valuable time and important business opportunities."

Image courtesy of Fundbox.