C2FO nets $200m funding led by SoftBank Vision Fund

C2FO, which helps companies get access to working capital, has received a $200m funding round led by the SoftBank Vision Fund.

Participation also came from existing backers Temasek and Union Square Ventures.

Through the new investment line, the company will look to develop its solutions in new markets to help SMEs and large multi-national organisations can access working capital.

C2FO is an online marketplace which helps transform receivables into cash flow and payables into income, it claims. Through algorithms, the company matches accounts receivable and accounts payable to accurately price the value for early payment in real-time.

SoftBank Investment Advisers managing partner Akshay Naheta said, “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.

“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.”

Last year, C2FO raised a $100m funding round led by Allianz X and Mubadala Investment Company. The former round was raised to support the international growth of the platform and developing its customer community.

SoftBank recently deployed $200m into cyber defence platform Cybereason, supporting the RegTech with its growth into new markets and build-out its partner program.

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