C2FO Frees Up Working Capital Funding During Economic Uncertainty
17 March 2020 |
The world’s leading market for working capital hits $100 billion milestone while building liquidity for companies around the globe.
Kansas City, USA (March 17, 2020) — At a time when global uncertainties and volatility are putting unprecedented stress on supply chains and working capital, C2FO announced that it has helped businesses worldwide generate more than $100 billion in working capital over the past 10 years through accelerated invoices in the C2FO online platform.
The $100 billion milestone, achieved by C2FO on March 9 of this year, is an important reminder that access to working capital continues to be critical to small- and mid-sized enterprises’ (SMEs) ability to grow and create jobs. This follows a groundbreaking year during which C2FO achieved an annualized funding run rate of $39 billion in the fourth quarter of 2019.
As a crisis like the COVID-19 coronavirus epidemic puts an even greater strain on supply chains and suppliers’ cash flow, C2FO is available to provide quick, reliable funding. During the week of March 9, when the global economy was faltering, the funding volume through C2FO saw a 60% increase from the previous week as thousands of SMEs around the world reacted to unstable business conditions.
Since funding its first customers on March 17, 2010, C2FO has built a global network that matches accounts receivable with accounts payable on a platform that has grown to 1.9 million network connections among over 400,000 businesses around the globe and processes nearly 50 million invoices per day.
The C2FO platform enables companies to receive early payment on the invoices they choose, at discounts they determine work best for their businesses. At the same time, their customers benefit by providing working capital that strengthens the financial health of their supply chains. In addition to facilitating more than $100 billion in capital, C2FO has accelerated payment for companies by 1.1 billion days since its inception.
“Given the success of our first decade, our resolve and mission remain,” said C2FO Founder and CEO Alexander “Sandy” Kemper. “Eliminate credit risk by matching all the world’s accounts payable and accounts receivable to make working capital flow like water to our customers so that every company has the capital needed to grow.”
C2FO has continued its global expansion in recent years, with customers in more than 180 countries, transactions in over 36 currencies, and operation centers in the United States, United Kingdom, India and China. In 2019, C2FO acquired Priority Vendor, India’s largest early payment platform.
“In times of uncertainty, working capital can be hard to come by,” said C2FO President Sanjay Gupta. “We believe C2FO is uniquely positioned to provide a fair and ethical source of cash flow to companies worldwide.”
C2FO is working to deliver a future where every company in the world has the capital needed to grow. Through our online platform and our suite of innovative financial products, we connect businesses that want cash with the cash they need. Determine a rate for the capital you need, and the C2FO online platform 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 over 400,000 business customers in more than 180 countries. To learn more, visit C2FO.com.