San Francisco, CA, Jan. 14, 2020 (GLOBE NEWSWIRE) -- Today Fundbox, the B2B payments and credit network designed to facilitate and accelerate B2B commerce at scale, announced that Marten Abrahamsen has been named as the company’s first Chief Financial Officer. On the heels of the company’s recent Series C $176 million round of funding, Abrahamsen’s addition signals the company’s plans for aggressive growth in 2020.
Abrahamsen is the newest addition to Fundbox leadership team joining recent executive additions including that of Leslie Olsen as the company’s first CMO and Todd Hamblet as Chief Legal Officer and Corporate Secretary.
“I’m incredibly excited to join the world-class team at Fundbox. Fundbox has a massive opportunity to help small business owners unlock the trillions of dollars collectively trapped in receivables,” said Abrahamsen. “I believe Fundbox’s distinctive combination of massive market size, defensible business model, and strong customer value proposition will make it uniquely positioned to succeed.”
Prior to joining Fundbox, Abrahamsen was a senior member of the investment team at The Chernin Group (TCG), a multi-stage investment firm dedicated to building consumer businesses, founded by media executive Peter Chernin.
Before his role at TCG, Abrahamsen was a senior investment professional at Coatue Management’s private company investment fund where he led growth investments and worked closely with portfolio companies on strategy, financial planning, and fundraising.
Abrahamsen also worked as a private equity technology investor with Vector Capital and started his career as an Investment Banker at Goldman Sachs. He holds an MBA from Harvard Business School and a BSc in Management, Economics, and Finance from The University of Warwick.
Unlocking the Net Terms Economy
According to a 2019 Fundbox research study developed in partnership with PYMNTs, there is an unprecedented $3.1 trillion owed to U.S. firms today, locked up in accounts receivables “limbo.” Fundbox calls this massive out-of-reach pool of capital the “Net Terms Economy.” By unlocking this capital with faster payment technologies, there is an opportunity to transform millions of businesses that provide or rely on open credit terms to complete a business transaction.
This is why Fundbox has built the first two-sided payments and credit network designed specifically to accelerate B2B commerce. With automated machine-learning risk decisions, faster payments to sellers, and more flexible payment terms to the buyer, sellers can focus on increasing average order volumes (AOV) while buyers have greater purchasing confidence and repayment flexibility.
“We are excited to have Marten join our team,” said Eyal Shinar, Founder, and CEO of Fundbox. “Our ability to scale in a sustainable way is directly tied to how rigorously we manage our finances. Marten brings a whole new level of financial knowledge and industry expertise that will be fundamental as we continue to expand our B2B payment and credit network domestically and beyond ”
About Fundbox
Fundbox is a leading financial technology company focused on disrupting the $21 trillion B2B commerce market by launching the world’s first B2B payments and credit network. With Fundbox, sellers (of all sizes) can quickly increase average order volumes (AOV) and improve close rates by offering more competitive net terms and payment plans to their SMB buyers. With heavy investments in machine learning and the ability to quickly analyze transactional data, Fundbox is reimagining B2B payments and credit products in new category-defining ways.
Fundbox has received numerous accolades for innovation including the prestigious Forbes A.I. 50, Red Herring North American 100, Forbes Fintech 50, CB Insights Fintech 250, Benzinga 2019 Fintech Listmakers, Forbes Billion Dollar Startup To Watch among others. Since the company’s founding in 2013, Fundbox has raised more than $300 million from a blue-chip group of investors led by Khosla Ventures, General Catalyst, Spark Growth Capital and Jeff Bezos, and is currently experiencing incredible growth momentum.
For more information about Fundbox, visit fundbox.com.
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