C2FO, a fintech firm and market for working capital based in the U.S., announced on Wednesday it secured $200 million through its latest investment round, which was led by the SoftBank Vision Fund with participation from existing investors Temasek and Union Square Ventures.
“Through our early payment, revolving line of credit, and factoring products, we’ve helped over 260,000 businesses access more than $51 billion in working capital.”
C2FO reported that the investment is designed to accelerate its development of new markets to further improve access to working capital for companies globally not just large multinational corporations, but also small and medium-sized enterprises. Sandy Kemper, C2FO Founder and CEO, stated:
“We are very fortunate to have a team who, for years, has delivered industry-leading unit economics, extraordinary customer satisfaction, and strong global growth. Due to their work, we have now grown to match over $1.2 trillion of accounts receivable and accounts payable.”
Akshay Naheta, Managing Partner for SoftBank Investment Advisers, also commented:
“We invested in C2FO because we think their disruptive innovation offers a solution to an industry that has traditionally lacked cost-efficient alternatives for businesses of all sizes looking to free up cash quickly. We believe the company’s platform provides maximum value for buyers and suppliers and are excited by the company’s vision to become the global exchange for working capital.”
Kemper went on to add:
“This infusion of capital from the Vision Fund and existing investors will be used to further our expansion as we strive to build a new world wherein the increased liquidity provided by the C2FO platform helps companies and in turn, entire economies, grow more rapidly.”