SellersFunding enters 2022 with new partnerships and 300% year-over-year growth
By Edlyn Cardoza
SellersFunding, a leading FinTech provider for sellers on Amazon, Shopify, Walmart, and other marketplaces, is capping off a year of added partnerships, Series-A funding round, and technological advancements, with 300% year-over-year growth.
SellersFunding is on a mission to help e-commerce sellers grow and achieve their full potential, offers a full suite of financial solutions that include working capital, an international cross-border account system supporting over 30 currencies with a virtual prepaid business card to enable financial transactions globally, tax solutions for Canada and Europe, and a data analytics tool centred on business valuation.
Leveraging its available suite over the past year, SellersFunding has been instrumental in helping companies shift from brick & mortar to e-commerce sales solutions. E-commerce is exploding, yet the industry lacks sufficient financial solutions that serve international merchants. To date, with the help of SellersFunding’s solutions, clients’ annual sales have exceeded $4 billion.
One such example, when the pandemic showed no signs of slowing, SellersFunding helped Cath Kidston, a UK high street classic, adopt a transformation strategy that focused on digital acceleration and international growth. SellersFunding generated a £5 million credit line over three years to fund Cath Kidston’s business model transition, cement its digital-first strategy and pursue growth opportunities. This year, the company has also announced a partnership with GOJA, an advanced Amazon operator and aggregator.
In September, SellersFunding announced that it secured $166.5 million in a combination of Series A equity funding and a credit facility to continue developing its technology and payments platforms for e-commerce businesses and further support its clients worldwide. Northzone led the round and was joined by Endeavor Catalyst and Fasanara. The funding allows SellersFunding to continue innovating and achieving ease of use for its customers.
“We’re thrilled to enter another year as a valued growth partner for those in ecommerce,” said Ricardo Pero, CEO of SellersFunding. “There is a massive opportunity for online businesses and we’re delighted to help our customers navigate their industries, and give them lending options, particularly during this challenging period of time.”
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