Market Surpasses 100 Million Days of Accelerated Payment
Supplier focus is the catalyst for working capital market growth
April 22, 2015— C2FO, the world’s market for working capital®, has reported Q1 2015 working capital flows of $2,856MM compared to $734MM in Q1 2014. Despite industry trends that indicate an ongoing concern over larger corporates delaying supplier payments, C2FO continues to partner with its growing buyer network to provide suppliers with a more cost-effective way to accelerate payments and improve their working capital positions.
In addition to the growth in working capital volume, the C2FO network of suppliers has increased by 540 percent over Q1 2014. New customers, including: Mohawk Industries, Tech Data and Quad Graphics, have led to expansion in key verticals including healthcare, manufacturing and technology. These key additions have directly contributed to the year-over-year supplier network growth.
In line with this continued supplier growth, more than 21MM days of accelerated payment were delivered to suppliers during Q1 2015. This brings the market’s total days of accelerated payment since inception to 105.8MM days or 287,480 years of early payment.
“Crossing 100MM days of accelerated payment is a significant working capital milestone for us and it looks like we will achieve 100MM again this year, effectively doubling the sum total of the prior 4 years of operation,” said Sandy Kemper, Founder and Chief Executive Officer. “Our Name your rate™ model is drawing thousands of new business customers to C2FO quarterly across multiple industry verticals and countries,” added Kemper.
Since the first C2FO market transaction in May, 2010, the platform has enabled collaborative wins between buyers and suppliers, delivering more than $15BN in working capital, fueling financial growth for buyers and suppliers across the globe.
“As more global companies focus on improving the financial health of their supply chains, C2FO will continue to grow, because of our supplier-centric approach,” said Sanjay Gupta, Chief Marketing Officer at C2FO. “Our high Supplier Support Net Promoter Score (NPS) of 78 is a clear indication that we consistently provide suppliers with a world-class experience and a reliable working capital alternative,” added Gupta.
C2FO is the world’s market for working capital® and risk-free profit. C2FO is the largest working capital exchange in the world and enables companies to Name your rate™ for working capital in a live marketplace. Companies across the globe use C2FO to increase their operating income while simultaneously producing vital working capital flows to their supply chains. C2FO is Collaborative Cash Flow Optimization.
C2FO Media Contacts:
Beatrice Broderick (US)
212.279.3115 ext. 214