New York based working capital financing startup Behalf has raised $27m in Series C financing, led by Viola Growth with participation from previous investors Sequoia Capital, Spark Capital, MissionOG, and Vintage.
The company intends to use the funds to increase investment in sales, business development and marketing, and support continued product innovation. Led by Benjy Feinberg, CEO, Behalf is a commercial payment platform specializing in providing small businesses instant point of sale terms at vendors of their choice. The solution provides instant point of sale financing for purchases up to $50k, pays merchants directly within 1 business day, then allows customers to create a flexible payment schedule on each individual transaction. Customers can use their purchasing line throughout Behalf’s network of integrated partners, as well as at MasterCard accepting businesses.