Friday 9th August, 2019
C2FO has announced the completion of a $200 MM funding round led by the SoftBank Vision Fund with additional participation from existing investors Temasek and Union Square Ventures.
Based in Leawood, Kansas, C2FO provides an online marketplace where suppliers offer discounted rates on their invoices in exchange for early payments direct from their customers. The company says this provides working capital, especially to small businesses, estimating that USD 40 trillion is tied up around the world in accounts receivables. C2FO says it has clients in 173 countries and plans to use the funds from this round to strengthen partnerships in India and China and create a presence in Korea, Japan and Indonesia.
SoftBank’s Naheta said the investment falls under the original Vision Fund and is not part of their newly formed USD 108 billion Vision 2, which is due to start investing soon.
This year, SoftBank’s USD 100 billion-odd fund has invested in the UK’s Greensill, another supply-chain financier, and OakNorth Bank, as well as a pending deal in German payments company Wirecard.