C2FO Announces $9.1 Million Funding Round Led by Union Square Ventures
05 September 2012 |
September 5, 2012, Kansas City, Mo. – C2FO, the fast-growing global market for working capital and risk-free profit, announced today the closing of a $9.1 million investment round led by Union Square Ventures (USV), a leading venture capital firm based in New York City.
“This investment from one of the most well-respected venture capital firms in the world will allow us to expand and enhance the first working capital and risk-free profit market of its kind for millions of companies,” said Alexander “Sandy” Kemper, Pollenware C2FO founder and CEO.
“This is a great fit for us. We invest in large networks of engaged users and we admire the marketplace that the C2FO team has developed over the past few years. We see C2FO as a highly disruptive solution that enables buyers and sellers to directly solve their financing needs without resorting to intermediaries,” said John Buttrick of USV.
Global working capital flows between businesses and their suppliers total more than USD$200 trillion annually. “There are established markets for stocks, bonds, currency, commodities and futures, and C2FO is developing the leading market for working capital,” said John Kill, Chief Financial Officer of Pollenware C2FO.
The C2FO market helps companies across the globe collaborate with their supply chain in daily, web-based market-clearing events to achieve accelerated cash flow and increased efficiencies in working capital management and profit. C2FO has delivered more than $2 billion in early cash flow and more than $144 million in new market capitalization for its clients, which include Fortune 1000 companies across the globe.
C2FO® is the world’s market for working capital™ and risk-free profit. C2FO is the only working capital exchange that allows companies to optimize their working capital positions 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 chain. C2FO is Collaborative Cash Flow Optimization. Learn more about C2FO at legacy-site.c2fo.com
About Union Square Ventures
Union Square Ventures (USV) is one of the leading venture capital firms investing in internet and mobile Internet businesses. Located in New York City, USV backs passionate, experienced entrepreneurs who are focused on creating highly scalable services and significant value propositions for their end users. Over the past 8 years, USV has been directly involved in the development of more than 40 companies and through its principals’ prior firms, has participated in the launch of more than 120 companies. For more information, visit www.usv.com.