For Immediate Release
Kansas City, Mo. – C2FO, the world’s largest market for working capital, today announced the completion of a $200 Million (INR 1420 Crore) 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.
India has emerged as the fastest-growing market for C2FO’s online marketplace, one of the most convenient and lowest-cost sources of working capital in the world. C2FO has grown to match over $1.2 trillion (INR 84 Lakh Crore) of accounts receivable and accounts payable globally. In the last four years, C2FO experienced 300% year-over-year adoption rates from businesses in India and expects that growth rate to continue in the next five years.
Utilizing proprietary algorithms, the company creates a seamless match between accounts receivable and accounts payable to dynamically price the value for early payment in real time. More than 300,000 businesses across 173 countries utilize C2FO to take control of their cash flow and receive more than INR 7100 Crore ($1 Billion) in funding every week. The investment is designed to accelerate C2FO’s development of newer markets, including India, to further improve businesses access to working capital.
“A large portion of the capital infusion will be used to build on the leadership position we have created in India. We will continue to hire teams to serve our customers, build our product line and invest in future growth opportunities,” said Pradeep Gode, Senior Vice President and Country Head, India.
“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. India is our fastest-growing market, showcasing the need for alternate sources of working capital as Indian businesses continue to scale into global organizations,” said Sandy Kemper, C2FO Founder and Chief Executive Officer.
C2FO is changing the way businesses improve their working capital through its simple, yet powerful technology. Utilizing an online marketplace, it connects businesses that want cash with those who have cash. Name your desired price of capital and C2FO algorithms match it with available funding sources. Cash flow can come through early payments of invoices from customers, A/R financing and other lending options. C2FO is the world’s largest non-banking solution for businesses across the globe. Learn more at C2FO.in.