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Fundbox has acquired the founding team of Vaya Technologies to bolster its embedded credit infrastructure, CEO Prashant Fuloria tells Axios exclusively.

Why it matters: The talent deal shows the embedded finance land grab heating up.

Driving the news: Vaya co-founders Ankit Singh and Soham Sen will join Fundbox's New York product and engineering hub.

No IP or other Vaya assets were acquired as part of the talent-driven deal.

Singh will lead product expansion initiatives, while Sen will oversee engineering efforts, particularly those related to new lending products.

"We're creating a full-stack product, credit and engineering hub in New York," Fuloria says. "Both founders will anchor that office as we spin up teams to tackle new use cases like purchase financing." 

Context:  San Francisco-headquartered Fundbox pioneered embedded lending with QuickBooks nearly a decade ago and has steadily expanded its embedded product offerings to target different SMB financing needs.

Its solutions now span invoice financing, lines of credit, term loans, cash advances, payroll financing, and purchase-order financing.

"Many of our platform partners look at capital not just for revenue share but as a way to deepen engagement and retention," Fuloria says.

By the numbers: To date, Fundbox has originated more than $6 billion in SMB credit and served over 150,000 businesses.

The company reached profitability for the first time in the third quarter of 2024 and Fuloria says most of the cash from its $115 million 2021 Series D raise remains in the bank. 

Between the lines: Fundbox is not actively planning to raise additional funding, but Fuloria says the company is open to opportunistic deals to fund M&A or international expansion.

The other side: Founded in 2021, New York–based Vaya lending platform powered white‑label capital programs for over a dozen vertical SaaS companies.

Investors include Fin Capital, Clocktower Technology Ventures, and Pioneer Fund.

State of play: Investors and strategics continue plowing capital into embedded lending infrastructure.

Pipe acquired AI‑powered spend‑management startup Glean.ai in April, combining embedded capital with spend management for SMB partners.

Parafin raised a $100 million Series C at a $750m valuation last December to scale its credit‑as‑a‑service platform for marketplaces like Amazon and Walmart.

That same month, Fiserv reached a deal to acquire Payfare, adding card‑program management and pay‑on‑demand capabilities to its embedded finance suite.

What's next: Fundbox plans to launch embedded credit solutions in its first new international market by Q3, Fuloria says.

"We aim to add a new geography every six to 12 months," he adds.

Exclusive: Fundbox acqui-hires Vaya founders for embedded lending

The talent deal shows the embedded finance land grab heating up.

Illustrated abstract collage of bills fading out, a raised hand, and check marks. 

Fundbox has acquired the founding team of Vaya Technologies to bolster its embedded credit infrastructure, CEO Prashant Fuloria tells Axios exclusively.Why it matters: The talent deal shows the embedded finance land grab heating up.

Exclusive: Fundbox acqui-hires Vaya founders for embedded lending

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