New York-based Behalf has raised $27m in a Series C round of funding to continue offering purchasing power to small business. The investment was led by Viola Growth, which is a part of Israel-based private equity group Viola Group.
Existing backers Sequoia Capital, Spark Capital, MissionOG and Vintage also participated in the round.
Behalf offers up to $50,000 for small businesses to make purchases. It then collects the repayments from their bank accounts on an agreed schedule.
The company claims its revenues have doubled every six months since it was founded in 2011.
The round takes the total raised by behalf to $156m. It says the new capital will be used to help it scale through investment in sales, businesses development and marketing. It will also be used to continue product development.
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