C2FO, an online market place for working capital, announced a $200 million funding round led by the SoftBank Vision Fund with additional participation from existing investors Temasek and Union Square Ventures.
The investment is designed to accelerate C2FO’s development of new markets to further improve access to working capital for companies globally not just large multinational corporations, but also small and medium-sized enterprises, said Sandy Kemper, founder and chief executive officer of C2FO.
C2FO’s online marketplace has emerged as one of the most convenient and lowest-cost sources of working capital in the world.
The company utilizes algorithms to create 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 $1 billion 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.