Customers of C2FO have accessed more than $200 billion in working capital, the company announced, touting its wide-ranging successes and highlighting pandemic-era growth that has solidified its place as a world leader in the financing space — and a pace-setter for deploying capital to underserved businesses.
“From Day 1, C2FO has worked to fill the gap left by traditional institutions and put control of capital back in the hands of businesses,” said Sandy Kemper, founder and CEO.
“When we consider that this $200 billion is money that businesses didn’t have to borrow or might otherwise not have been able to access, we’re proud of the role we’re playing in ensuring working capital gets to where it’s needed quickly to help companies thrive.”
Click here to read about C2FO’s most recent funding round which injected $140 million into the fintech company — which has to date raised $431.5 million.
In 2021 alone, C2FO provided $1.95 billion in financing to, largely, women- and minority-owned businesses — delivering exponential impact in underserved communities, the company said.
“By comparison, other large financial institutions have touted pledges to deploy $2 billion to these communities over five years — not annually. … This amplification demonstrates the strong demand for more efficient and affordable sources of working capital since the start of the COVID-19 pandemic,” the company continued.
“At this pace, C2FO is on track to exceed $1 trillion in funding [provided] in less than four more years.”
Offering a platform that matches accounts receivable and accounts payable and enables suppliers to receive early payment on invoices, C2FO customers have created 57,000 jobs, according to the National Bureau of Economic Research — a direct result of the platform’s ability to safely increase margin and profit while ensuring a company keeps its supply chain healthy, the company added.
“This record funding amount reflects invoices that were paid an average of 32 days early via the C2FO platform, providing rapid access to working capital that has proven to be essential amid rising costs, broader economic uncertainty, and restricted lending from financial institutions,” C2FO said.
“Businesses that utilize C2FO to fund their suppliers have saved approximately $1 billion in the cost of goods, adding $1 billion to their bottom line while simultaneously strengthening their supply chains.”
Since its inception in 2008, C2FO is believed to have saved small businesses and startups $1.2 billion in overall financing costs compared to traditional lending institutions, the National Bureau of Economic Research also found.
Click here to learn more about C2FO and how its success has benefited diversity, equity, inclusion, and belonging efforts in Kansas City.
