Briefing

FundThrough raises $66 million from Northleaf Capital Partners

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The Toronto-based fintech provides businesses money instantly based on outstanding invoices. (The Logic)

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Talking point: This is FundThrough’s fifth raise, any by far its largest, bringing its total to $122.2 million, according to Crunchbase. The firm is looking to expand in the U.S. and Canada as government lending programs for businesses initiated in the pandemic are scaling down. FundThrough is competing in the increasingly crowded space of offering loans to businesses based on future revenue. Shopify launched a small-business loan fund in Canada in April, and last week, Clearbanc created a new program where it buys inventory directly from suppliers, and firms pay it back after the product is purchased.