C2FO raises $200mn in funding round led by SoftBank fund

C2FOFintech firm C2FO has raised $200 million in a funding round led by SoftBank Vision Fund to boost presence globally and tap the small and medium-sized business segment.

C2FO is an online marketplace which connects suppliers with buyers to help them avail funding sources, through early payments of invoices from customers and other lending options.

Its existing investors, Singapore’s state investment arm Temasek and New York-based venture capital firm Union Square Ventures also participated in the funding round.

C2FO aims to use the funds to develop new markets by improving its access globally for large corporations as well as small and medium-sized enterprises.

“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.

“We believe the company’s platform provides maximum value for buyers and suppliers and are excited by the company’s vision to become the global exchange for working capital,” Naheta said.

Post the investment, Nahoko Hoshino will join the C2FO board on behalf of SoftBank Investment Advisers, it said in a statement.

“This infusion of capital from the Vision Fund and existing investors will be used to further our expansion as we strive to build a new world wherein the increased liquidity provided by the C2FO platform helps companies and in turn, entire economies, grow more rapidly,” said Sandy Kemper, C2FO Founder and Chief Executive Officer.

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