FundThrough raises $34 million led by ScaleUP Ventures, David Mirvish
Summary
Toronto-based FundThrough has raised $34 million in a financing round led by ScaleUP Ventures, and Canadian art collector David Mirvish. The goal is to help businesses fill large cash flow gaps as customers take longer to pay invoices. “Our mission of helping business owners succeed by enabling them to control their cash flow is empowering Canadian businesses and is gaining significant traction in the U.S.” said Steven Uster, co-founder and CEO of FundThrough. “This has led to tremendous growth and innovation since we first launched in 2014.” The company will use the funding to develop its technology, offer financing to a greater volume of businesses, build integrations with platform partners, and accelerate expansion into US markets. By factoring those receivables, they had the money that enabled them to buy more inventory to sell and that allowed them to grow their business.
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