NEW YORK & LONDON--(BUSINESS WIRE)--SellersFunding, innovators in financial solutions for eCommerce sellers, announced the closing of a momentous receivables funding program with European alternative asset manager Fasanara Capital.
The multi-currency deal will allow for up to $100 million in funding across USD, GBP, EUR and CAN currencies to enhance SellersFunding’s liquidity, as the U.S.-headquartered company continues to expand its services in North America, the United Kingdom, Canada and Continental Europe.
“This program allows us to keep up with the surge in global demand for working capital that has resulted from the eCommerce boom we are experiencing,” said Ricardo Pero, CEO of SellersFunding. “It enables us to offer quick and flexible financing solutions for the millions of eCommerce businesses looking to grow quickly.”
SellersFunding has reported unprecedented growth in demand, with a massive 404 percent increase in their user base in 2020 alone. SMB users of their integrated platform, which includes access to working capital, daily advances, cross-border payments and business analytics, show an 84 percent growth rate year-over-year.
SellersFunding recently announced a global expansion of its integrated financial services platform into the EU, UK and Canada.
“We are glad to continue to support SellersFunding in their ambitious growth plans, backing their needs with flexible capital at scale,” said Francesco Filia, CEO at Fasanara Capital. “It is a real-economy impact funding solution, helping small and mid-size enterprises at a crucial point in the credit cycle, given that commercial banks tend to focus on the largest corporations.”
About SellersFunding
SellersFunding operates a global financial platform which provides financial tools focused solely on online marketplace sellers. Their machine-learning model offers working capital to businesses frequently not eligible due to their global expansion, coupled with a robust currency exchange and transfer system, making it a “one-stop-shop” for e-commerce marketplace sellers.
About Fasanara Capital
Established in 2011, Fasanara Capital is a quantitative fintech investment company authorised and regulated by the FCA, offering access to inventive disruptive products and real-economy impact investment solutions, making extensive use of proprietary financial technology. Fasanara’s unorthodox portfolio construction and unconventional investment strategy is a response to today’s transformational financial markets, away from twin bubbles in public equity and bonds.
