Running a business often amounts to juggling cashflow. The unfortunate reality is that expenses often go out long before the resulting revenue comes in. And that’s the best case scenario where there’s actually revenue. That’s one reason I prefer to write about businesses as a journalist, rather than than actually running one. The Israel-based Fundbox believes that it has a solution for to the short-term cashflow shortfalls faced by most small businesses.
Unpaid invoices can be a crushing inhibitor to growth for small business. The shortfall in cash flow when businesses don’t get paid on time can throw off everything from running payroll, to buying inventory as well as taking up time chasing down bills. Enter another alternative lending provider aimed at the small business market – Fundbox. Today it raised $17.5 million in Series A funding. The round was led by Khosla Ventures, with investors, VIkram Pandit, the former CEO of Citigroup C +1.2%, Tom Glocer, the former CEO of Thomson Reuters and Jay Mandelbaum, the former Head of Strategy & E-commerce at JP Morgan Chase also participating, among others.