San Francisco, CA, June 22, 2022 (GLOBE NEWSWIRE) — Fundbox, an embedded working capital platform for small businesses, announced today that the company has partnered with Galileo Financial Technologies, an open API platform that enables unique and differentiated financial solutions, and MetaBank®, N.A., a leading financial empowerment company, to accelerate its product roadmap and help bring innovative products to market. Fundbox also announced the appointment of a new Chief Product Officer, Jin Hwang, who most recently served as Head of Product – Platform at Marcus by Goldman Sachs and previously led the product team at Intuit QuickBooks Capital.
Fundbox’s partnership with two leading fintech infrastructure companies and appointment of a Chief Product Officer are part of an ongoing effort to expand its working capital platform. Last year, the company launched Flex Pay, a spend management product that helps business owners better manage their payables, giving customers flexibility and peace of mind that critical business expenses get paid on time. Fundbox has seen significant growth and quick adoption of the product, and reports payment volume increased over 80% quarter-over-quarter, with the median active customer using it over five times a month for applications like payroll, inventory, and rent.
Business owners can access Fundbox solutions through embedded experiences with business systems and accounting solutions, or directly through the native Fundbox website and mobile app. Fundbox has unlocked access to over $3B in working capital and connected with half a million businesses on its platform.
“Our new partnership with Galileo and MetaBank enables us to expand and scale payment offerings on our platform,” said Prashant Fuloria, CEO of Fundbox. “We will introduce a number of new Flex Pay capabilities later this year, including a bill pay functionality where customers can make fast and easy payments to third party merchants on the platform.”
“Business owners are increasingly asking for access to payment tools that work as easily and efficiently as those available in the consumer sector–and rightfully so,” said Derek White, CEO of Galileo. “Empowering our partners to meet this emerging demand is a key area of focus for Galileo, and we’re proud to help Fundbox offer their customers more ways to make purchases and manage expenses, enabling owners to spend more time focusing on successfully running their business.”
The continued expansion of Fundbox’s working capital products will be overseen by Jin Hwang, Fundbox’s new Chief Product Officer. He brings two decades of experience in product development, design, technology, and finance. At Fundbox, Hwang will lead product strategy, UX, and development to create impactful solutions that support small business growth.
“I’m thrilled that Jin has joined Fundbox to lead our product team,” said Fuloria. “As we expand our product platform and significantly scale our business, Jin’s deep fintech product expertise, passion for small business, and experience with product development at scale will be key to building a strategic product roadmap that elevates Fundbox to the next level.”
Most recently, Hwang served as Head of Product – Platform at Marcus by Goldman Sachs, where he built and scaled the platform product team. During his tenure, he built the firm’s first BNPL solution, MarcusPay, and helped sign the company’s first large corporate partner. Before joining Marcus, Hwang built and led the product team for QuickBooks Capital, Intuit’s small business financing platform.
About Fundbox
Fundbox is an embedded working capital platform for small businesses. Business owners can access solutions through embedded experiences with business solutions or directly through the native Fundbox website and mobile app. The company has connected with half a million businesses and unlocked more than $3B in working capital. Fundbox has received numerous awards including the Forbes AI 50, CB Insights Fintech 250, and Fintech Breakthrough Awards. Founded in 2013, Fundbox currently has 300+ employees and offices in San Francisco, CA; Dallas, TX; New York, NY; and Tel Aviv, Israel. Learn more at fundbox.com.
About Galileo Financial Technologies
Galileo is a leading financial technology company whose platform, open API technology and proven expertise enable fintechs, emerging and established brands to create differentiated financial solutions that expand the financial frontier. Galileo removes the complexity from payments and financial services innovation by providing flexible, open API building blocks and a secure, scalable, future-proof platform. Trusted by digital banking heavyweights, early stage innovators and enterprise clients alike, Galileo supports issuing physical and virtual payment cards, mobile push provisioning and more, across industries and geographies. Headquartered in Salt Lake City, Galileo has offices in Mexico City, New York City, San Francisco and Seattle.
About MetaBank®
MetaBank®, N.A., a national bank, is a subsidiary of Meta Financial Group, Inc.® (Nasdaq: CASH). MetaBank is a U.S.-based financial empowerment company driven by its purpose to power financial inclusion for all™. MetaBank strives to increase financial availability, choice, and opportunity across its strategic service lines including Payments, Commercial Finance, and Consumer Solutions, which is comprised of tax services and consumer lending. These solutions are seamlessly integrated to provide end-to-end support to the individuals and businesses who are powering the everyone economy. On March 29, 2022, MetaBank announced it is changing its name to Pathward™, N.A. The company will make certain changes immediately and fully transition to Pathward by the end of this calendar year. Learn more at MetaBank.com.
Flex Account is a business demand deposit account established by MetaBank, N.A.
Contact Data Judy Huang Fundbox judy.huang@fundbox.com
Usuários de débito nos EUA aumentaram os gastos com viagens e restaurantes nesta primavera, apesar dos desafios econômicos
Os usuários de cartões de débito nos Estados Unidos aumentaram os gastos com restaurantes e viagens com a chegada do clima mais quente, impulsionados em parte pela temporada de restituição de impostos, de acordo com o Índice de Gastos com Débito do 1º trimestre de 2026 da Galileo. As transações em restaurantes e fast-food cresceram 18% no trimestre. O valor dos gastos com viagens no débito disparou 37%, superando o crescimento do volume de transações em 15 pontos percentuais. Isso indica que os consumidores estão gastando mais por reserva devido a adicionais como experiências, viagens mais longas e o repasse do aumento dos custos do combustível de aviação. Essas pressões podem se intensificar após o desaparecimento da Spirit como concorrente de tarifas ultrabaixas. (Leia o artigo completo [aqui](https://docs.google.com/document/d/1j_3bROViUajR8-H4cX2yfZQwXzgmglzK33BtcM0yhjQ/edit?usp=sharing).)
O Impulso da Primavera: Novo Índice de Gastos com Débito da Galileo Mostra os Gastos do 1º Trimestre e as Perspectivas para o Ano
Os consumidores americanos gastaram com cautela no débito durante janeiro e início de fevereiro, antes que as restituições de impostos antecipadas e o clima de primavera desencadeassem um aumento de gastos em março, de acordo com o Índice de Gastos com Cartão de Débito da Galileo (Galileo Debit Spend Index) inaugural.
Por que o avanço dos cartões de débito da Geração Z está reduzindo os lucros dos cartões de crédito
Para pessoas preocupadas com a economia e enfrentando questões de acessibilidade financeira, uma opção pode ser deixar de lado o cartão de crédito com altas taxas de juros e optar por um cartão de débito confiável. Para descobrir as últimas tendências em cartões de débito, a CardRates conversou recentemente com Paul Dunning, Vice-Presidente de Desenvolvimento de Negócios da Galileo Financial Technologies, uma fintech pertencente à SoFi. Ele explicou por que os consumidores da Geração Z estão migrando para cartões de débito e esperando recompensas, o forte apelo das recompensas em débito e a atratividade dos cartões de débito para o consumidor que prioriza o débito.
Metade dos consumidores escolheu uma marca em vez de outra porque pagar ou receber reembolso era mais fácil
A demanda dos consumidores por serviços financeiros integrados em aplicativos de marcas está superando a capacidade das empresas de entregá-los, e a maioria dos executivos reconhece essa lacuna. Uma nova pesquisa da Galileo Financial Technologies, que em breve se tornará SoFi Technology Solutions, revelou que 80% dos executivos de marcas afirmam planejar lançar serviços financeiros integrados, mas apenas 20% já o fizeram até agora. O Relatório de Pesquisa Galileo Integrated Financial Services 2026, baseado em pesquisas com mais de 2.000 consumidores dos EUA e 150 executivos seniores, mostra que, embora os consumidores já utilizem funcionalidades como cartões salvos, recompensas e reembolsos instantâneos dentro de aplicativos de marcas, a maioria das empresas ainda não lançou essas capacidades.
Executivos de marcas temem perder clientes para concorrentes com ferramentas financeiras integradas em aplicativos, aponta pesquisa da Galileo
Metade dos consumidores escolheu uma marca em vez de outra porque pagar ou receber um reembolso era mais fácil
