We just raised $34 million so that we can help your business succeed
July 18, 2018
A message from our Co-Founder & CEO, Steven Uster:
We started FundThrough with a mission to enable small business owners’ success by addressing one of your biggest and most painful hurdles: cash flow gaps. We live and breathe this mission each and every day. Our team is dedicated to this cause and always makes our users their first priority. We could never have achieved this milestone if it wasn’t for the loyalty of our users and the trust you place in us to help you.
Our latest financing round was led by some amazing investors, all of whom understand the challenges business owners face, because all of them are themselves entrepreneurs and business leaders. We’re so proud to have David Mirvish and ScaleUP Ventures as our lead investors in this round. Bringing on deeply committed investors provides us with the financial resources and experience to add to our incredible team, expand and improve the FundThrough product, bring on more integration and channel partners, and continue to ensure the best service to our valued clients. In keeping with the mission that FundThrough was founded on, we’ll be using the new funds to make your business lives easier – ensuring that FundThrough can meet the unique needs of each and every one of our users.
Our team has more dedication and resources than we’ve ever had, and we can’t wait to make the FundThrough vision a reality for many more business owners in the years to come.
With this funding, we’ll be able to do even more for you:
Set Higher Funding Limits
We are already able to provide our users with some of the highest funding limits possible thanks to our automated credit and underwriting model, and the hard work of our credit underwriting team. We’ll be investing even more resources and cutting edge technology (including machine learning and artificial intelligence models) into iterating and improving our underwriting and risk models, enabling our team to provide even higher funding limits as well as funding increases to more businesses in the future. We’ll be able to say “yes” even more often so that we can better meet your needs.
Add New Features and Products
Our goal is to help every business owner with their unique funding needs, and we are working to expand our product offering to ensure that FundThrough can meet these needs for every unique business. We’ve heard your requests loud and clear, and will be hiring more developers and engineers to release new features for our current FundThrough product.
Some of the features on our roadmap include integrating flexible payment schedule functionality, an easier early repayment process, better reporting tools so that you can easily download tax or accounting documents, as well as integrated accounting functionality within FundThrough’s software. Any others you’d like to see? Please let us know!
In the future, we are looking into new product offerings under the FundThrough umbrella, including possibly some form of purchase order financing, bridging gaps for non-traditional invoices (real estate broker commissions for example is something we’re thinking about), and funding invoices from your suppliers (in addition to our current offering funding invoices to your customers). These are just some of the many ideas we are exploring. If there are others you’d like to see, reach out and let us know.
Stabilize Data Connections
Seamless access to data sources are at the core of the FundThrough user experience. We pride ourselves on our ability to provide funding advances at the touch of a button so we understand and appreciate the frustration when your bank connection or accounting software connection drops right when you want to fund. We are higher more engineers and integrating with more data aggregators to make the connection process more seamless and ensure a more stable experience.
Enhance our Client Service and User Experience
Seriously? Is this even possible?
With this funding round we are able to hire more staff, making our response time to inquiries and questions faster than ever. And with our growing user base, we want to make sure there is always a real person ready to help you with any funding questions. Our users are our number one priority, and we are thrilled to be able to improve user experience wherever possible.
Expand Across North America
Our mission of granting business owners never-before-seen control of their cash flow initially empowered Canadian businesses and is now growing exponentially in the U.S. But we’ve only scratched the surface. Cash flow gaps are a challenge faced by all small business owners everywhere – yet most still aren’t aware of the solution FundThrough offers. We’re going to change that! We’re going to use the funds raised in this round to expand our reach so look out for us. Our aim is to be everywhere, a tool that all business owners have in their back pocket that is used in the normal course of operating your business. Even having infinite funds though won’t fully enable us to achieve this goal. For this, we need your help – your advocacy, your support and your references/referrals. Please share your FundThrough experience with anyone who runs a business and waits to get paid. Together we can change the way businesses operate by eliminating the concept of “payment terms”. Regain control and get paid when you want by using FundThrough.
We are thrilled to be taking this new journey into an era of growth with our valued users – our FundThrough family. We’re humbled by your trust and loyalty to FundThrough and for letting us into your inner business circle.
Thank you for your continued support, we’ll forever be appreciative of the trust you’ve given us to handle your most pressing cash flow needs.
We’re looking forward to this next phase of growth and are excited to have you take this journey with us: changing the way businesses operate around the world.