The popular financial management app for solopreneurs and freelancers, HoneyBook, has raised $28mn from Citi as they look to diversify their product base; the company also reached $1bn in payments volume on their platform; HoneyBook allows members to manage their full lead cycle online from proposal to negotiation and agreement; “We are able to quicken the time from lead to money in bank,” said Oz Alon, co-founder and CEO of HoneyBook, to TearSheet. “We got it down to a week and we’re trying to get down to a couple of days. If we can give our members some of their time back, there’s nothing more valuable.”; they did not disclose the types of new products but the fresh capital will allow them to address the needs of their core millennial members who are not banking the traditional way. Source.
