SAN FRANCISCO, CA, June 22, 2021 (GLOBE NEWSWIRE) -- Fundbox, the financial platform for small businesses, announced today that it has appointed Hilliard Terry to its Board of Directors. Mr. Terry is an experienced executive leader, corporate board member and advisor to private equity backed portfolio companies.
Mr. Terry currently serves on the board of directors of Umpqua Holdings Corporation (NASDAQ: UMPQ), a financial services company. He also serves on the board of directors of Upstart Holdings, Inc. (NASDAQ: UPST), a leading artificial intelligence consumer lending platform, and on the board of TLG Acquisition One Corporation (NYSE: TLGA-UN), a special purpose acquisition company.
“Hilliard is an accomplished public company CFO and a seasoned board member with an impressive record of achievement at the intersection of technology, finance, and banking,” said Prashant Fuloria, CEO of Fundbox. “We are thrilled to benefit from his operating and board experience in this time of opportunity and growth post-COVID.”
Mr. Terry has recently served as an advisor to private companies and previously as Executive Vice President and Chief Financial Officer of Textainer (NYSE: TGH). Prior to Textainer, Mr. Terry was Vice President and Treasurer at Agilent Technologies (NYSE: A), and was the Head of Investor Relations during their IPO and subsequent spin-off from Hewlett-Packard. Before joining Agilent, he worked in marketing and investor relations for HP's VeriFone subsidiary. Mr. Terry has also held positions in investor relations and investment banking with Kenetech Corporation and Goldman, Sachs & Co., respectively. He is a qualified financial expert with operating experience and in-depth knowledge of accounting, treasury, investor relations, financial planning & analysis, risk management and corporate development.
“Through their AI-powered platform, Fundbox is providing access to credit for a much broader community of small businesses, a sector that has been underserved in the past. This is critically important and fundamentally different from anything that has ever been done before,” said Mr. Terry. “There is a massive market opportunity ahead and I look forward to rolling up my sleeves and diving into areas like governance and compliance, which are critical fields of investment for a company at this stage.”
The company is poised for massive growth as the small business economy recovers and expands post-COVID. Recent research has shown that Americans started 4.4 million businesses in 2020, a 24% increase from the year prior, and the first time in history that new businesses have increased during a recession.
Fundbox provides access to financial tools that enable small business owners to cover business-critical operating expenses. Their AI technology has enabled the company to scale quickly through automation while increasing access to capital through superior predictions and credit decisions. Fundbox’s process is fully automated, and 99% of their decisions are made without human intervention.
About Fundbox
Fundbox is a financial platform for small businesses. The company is on a mission to unlock growth for small businesses by providing fast and easy access to financial tools and working capital solutions. Fundbox has connected with nearly 300,000 businesses, unlocked over $2B in working capital, and invested $100M into its AI platform, gaining deep insights into the small business ecosystem.
The company has received numerous awards including the prestigious Forbes Best Startup Employers and AI 50, Red Herring Top North American 250, CB Insights Fintech 250, and Fintech Breakthrough Awards. Founded in 2013, Fundbox currently has 200+ employees and offices in San Francisco, CA; Dallas, TX; and Tel Aviv, Israel.