C2FO acquires India’s largest early payment platform, Priority Vendor
09 October 2019 |
Mumbai, India: C2FO, the world’s largest provider of working capital solutions cements its position in India by acquiring the country’s largest early payment platform, Priority Vendor. With the amalgamation of C2FO and Priority Vendor under a single platform, Indian suppliers will receive a continuous flow of capital at costs lower than traditional financing alternatives. Their combined network of more than 200 corporates will now be able to enhance returns on liquidity and strengthen the supply chain system. More than 350,000 companies across 173 countries utilize C2FO’s working capital solutions to take control of their cash flow and receive over $1 billion in funding every week.
“This is an important milestone in C2FO India’s journey. The acquisition of Priority Vendor enables us to strengthen our position in the working capital space and to offer our customers’ more flexible and convenient solutions than ever before. C2FO services and supplier-led pricing model fully complement Priority Vendor’s unique digital financing solutions built exclusively for Indian businesses. We are also delighted to welcome Priority Vendor’s energetic and entrepreneurial leadership and team to join C2FO’s global talent pool,” said Pradeep Gode, Country Head, India.
“We are thrilled to become a part of the C2FO family. Collectively, we will facilitate the most affordable on-demand funding for Indian suppliers and the only risk-free, high-yield investment option for corporates in one single platform. As a team, we are excited to take this giant leap towards being part of the C2FO global network,” said Kunal Agarwal, Co-founder, Priority Vendor.
India has emerged as the fastest-growing market for the C2FO 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 of accounts receivable and accounts payable globally. In the last four years, C2FO has experienced 300% year-over-year adoption rates from businesses in India and expects that this growth rate will to continue in the next five years.
C2FO is working to deliver a future where every company in the world has the capital it needs to grow. Through our online marketplace and our suite of innovative financial products, we connect businesses that want cash with the cash they need. Name your desired price of capital and C2FO algorithms will match it with available funding sources. Cash flow comes through early payments of invoices from your customers, A/R financing, and other data-driven funding options. C2FO is the world’s largest non-bank provider of working capital, serving more than 350,000 business customers around the globe. C2FO.com.
About Priority Vendor
As India’s largest dynamic discounting platform, Priority Vendor provides working capital solutions to Corporates and their Suppliers of raw material, packing material, transportation, and other services to unlock value out of the existing supply chain. Its dynamic discounting solution enables suppliers to access liquidity at competitive rates by giving cash discounts on approved invoices. This helps clients increase returns and helps their suppliers in a risk-free, automated and large-scale manner.