SAN FRANCISCO--(BUSINESS WIRE)--Fundbox, a leading embedded working capital platform for small businesses, announced today that it has hired Ofer Karp, a seasoned engineering executive, as the company’s new Chief Technology Officer and General Manager of Tel Aviv. Based in Israel, Karp will oversee all engineering and technology functions, including Product Engineering, Platform Engineering, and Information Security, and will lead the company’s Israeli office.
Karp will be responsible for scaling Fundbox’s engineering functions as the company continues to experience increasing demand for its working capital solutions. He will also manage growing product and business complexity as the company’s product offerings continue to expand, and build Fundbox’s team of engineers, data scientists, product, and UX designers as the company strengthens its presence within Israel.
“As Fundbox continues to mature, it becomes critical for us to bring on talent with deep operational knowledge in scaling long-term, durable businesses,” said Prashant Fuloria, CEO of Fundbox. “During his tenure at WalkMe, Ofer played a critical role in expanding and strengthening their engineering function, and helped bring the company through a public market debut. His experience will be essential to Fundbox as we continue to build a sustainable, resilient, category-leading business.”
Fundbox provides small businesses with greater control over their cash flow cycles, supporting business owners through fast and flexible on-demand capital and spend management solutions. The company has continued to experience growth over the last few months, and recently announced it has crossed $160 million in annual revenue run-rate.
“Growing up, I saw my parents struggle with the day-to-day challenges of being small business owners,” said Karp. “Since then, it's been a goal of mine to work at a company that supports small businesses. I am so grateful for the opportunity to work at a company as influential and supportive as Fundbox and look forward to taking the business to the next level.”
Previously, Karp was Executive Vice President of Engineering at WalkMe, an Israeli-American SaaS company, where he led engineering and product efforts across three offices and scaled his team to more than 300 employees. Before that, he held multiple positions at Perfecto Mobile (acquired by Perforce) and Hewlett Packard, having joined through the acquisition of Mercury Interactive.
Fundbox is an embedded working capital platform that helps small businesses to optimize cash flow, which is a critical and increasing need. Fundbox provides fast and flexible on-demand capital and spend management solutions, meeting customers where they are through embedded experiences within trusted business systems or natively on the Fundbox website and mobile app. The company has unlocked more than $3B in working capital for millions of small businesses. Headquartered in San Francisco, CA, Fundbox has offices in Dallas, TX; New York, NY; and Tel Aviv, Israel. Learn more at fundbox.com.