European payments provider Mangopay has announced a partnership with Storfund.
Terms of the deal were not revealed.
Mangopay, based in France, has long been a top payments provider for marketplaces like crowdfunding platforms. Founded in 2013, Mangopay says it has supported 2,500+ platforms and marketplaces. The company provides an end-to-end infrastructure from pay-in to payout.
Storfund is an e-commerce cashflow enabler that was founded in London in 2018. The company says it can provide up to £5 billion in funding for sellers on Amazon and more.
Storfund will now use Mangopay to offer the choice to eliminate the standard 10 – 30 day wait for payment for sales by getting paid on the day that they sell.
Romain Mazeries, CEO at Mangopay, said that by introducing immediate payments for its clients they are offering an answer to cashflow challenges. By incorporating its services it can help its clients to scale.
