FundThrough is a small business lender that specializes in granting firms cash advances based on their customer invoices. The lending organization focuses on companies that can’t wait the average 30 to 90 day payment cycle. Since 2014, FundThrough has lent $50 million to hundreds of businesses, with an 85% repeat rate.
With such great customer service and current progress, the Canadian company was able to secure $24.6 million in additional funding. According to The Globe and Mail, "FundThrough will receive $4.6-million of equity and access to an additional $20-million in loan capital. The lead investor is Scale Up Ventures, a $75-million venture capital firm launched earlier this year, backed by private industry including three yet-to-be undisclosed Canadian banks, and a $25-million commitment from the Ontario government.“
The funds will help the organization continue to operate as well as improve its credit automation and software tools. As my readers know, I am a big supporter of funding opportunities for small businesses and its wonderful to see that even Canada is getting in on the action.