In the Press

TrueAccord Corp, a debt collection company using machine learning-powered digital recovery solutions, today announced that it has served more than 20 million customers in debt with a digital-first experience. TrueAccord's customer-centric approach and commitment to creating a positive consumer experience is reflected in its 4.7 Google customer satisfaction rating, customer feedback, and an A+ rating with the Better Business Bureau.

Fundbox 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.

InCountry has partnered with Alibaba Cloud who will host and resell InCountry's data residency technology in China, allowing businesses to expand into China quickly and efficiently, while complying with applicable local data rules and regulations.

Indonesia-based digital banking and finance platform Akulaku, part of China's Alibaba Group, is looking to increase its stake in Bank Neo Commerce from 25.2% to over 40%.

Fundbox is partnering with Visa to bring the power of Visa's network to Fundbox's working capital platform. The first step in this partnership is the launch of the Fundbox Flex Card, which helps customers better manage their critical business payables. Fundbox also plans to launch additional collaborative products including a BNPL solution for B2B and instant fund disbursement through Visa Direct.

Arbor Ventures is delighted to announce the appointment of Peter Sanborn as its first General Partner. A former senior leader at Paypal, Peter will join Arbor's early stage investment team and will also lead growth-stage investments for the Arbor B-FLEXION Growth Fund. “We are delighted to welcome Peter to Arbor Ventures,” said Melissa Guzy, Managing Partner and Founder of Arbor Ventures. “He brings with him a wealth of global experience that is directly aligned with our mission of partnering with innovators to shape a smarter financial future. In addition to complementing the team, Peter will extend Arbor’s capabilities to a multi-stage platform that can flexibly support founders from their earliest days through their growth stages and beyond.”