C2FO, the working capital market, has announced the completion of a US$200m funding round led by the SoftBank Vision Fund with additional participation from existing investors Temasek and Union Square Ventures. Following the investment, Nahoko Hoshino will join the C2FO board of directors on behalf of SoftBank Investment Advisers.
The investment is designed to accelerate C2FO’s development of new markets to further improve access to working capital for companies globally, from large multinational corporations to small and medium-sized enterprises.
C2FO’s online marketplace uses proprietary algorithms to create a seamless match between accounts receivable and accounts payable, which dynamically prices the value for early payment in real time. More than 300,000 businesses across 173 countries use C2FO to take control of their cash flow and receive more than US$1bn in funding every week.
“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,” said Akshay Naheta, Managing Partner for SoftBank Investment Advisers. “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.”
“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,” added Sandy Kemper, C2FO founder and CEO.
C2FO partners with India’s Kotak on working capital management solution
The bank says the partnership with C2FO will meet the increased working capital needs of Indian businesses.
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