The e-commerce financing company Storfund has
been able to land £300M in a deal. This will allow it to expand its services to
cater to the increase in demands for cashflow services following the expansion
of online shopping across the world.
The transaction was led by Fasanara Capital. It
includes a warehouse line of £100 million in committed funds and is
extendable to £300 million.
This deal is a considerable increase from the £26.5 million that the firm
acquired in its last funding round in February. The impact of this deal can be
quite significant in the world of e-commerce as a whole since Storfund
has an international reach. It is Amazon’s only approved global provider of
factoring - immediate payment on sales and it is operational in 17 out of 20 of
the giant’s marketplaces. Merchants in North America and Europe can already
enjoy its services and it is planning to expand to Latin America and Asia
Pacific as well. The company says that there are several important
announcements to come.
What advantages can retailers enjoy?
Marketplaces integrating with Storfund can offer merchants better payment terms. The
firm supports growth by giving sellers the opportunity to restock faster and to
build their product catalogues.
Photo credit: PublicDomainPictures
from Pixabay
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