C2FO, a market for working capital, has added Citi Ventures to its list of investors that already includes recognizable names such as Union Square Ventures, Temasek, Tiger Global and more. C2FO creates an exchange where companies with excess cash may drive higher rates of return by lending to companies in need of cash – tied to accounts receivable.
The amount of Citi Ventures’ investment was not disclosed but was said to support C2FO’s continued growth as it seeks to expand its offerings and capabilities globally.
“C2FO’s rapid global growth demonstrates the value of solutions that promote a healthier supply chain,” said Arvind Purushotham, MD & Co-Head of Venture Investing at Citi Ventures. “We’re excited to support C2FO’s highly efficient marketplace that simplifies and optimizes cash flow for businesses.”
In the last year, C2FO has opened offices in Germany, India, Hong Kong and Singapore as it goes global. C2FO founder and CEO Sandy Kemper called Citi’s investment “strategic” that would bring deep relationships and help boost platform growth.