E-commerce FinTech company SellersFunding (website) is launching two new working capital products to increase its resources for small businesses. SellersFunding is a digital platform with financial products that streamline global trade across working capital, cross-border cash management, and business valuation markets. The two new products, Invoice Factoring and Purchase Order (PO) Financing will allow SellersFunding to expand its offerings to businesses outside the e-commerce and wholesale sectors.
“Given that loan underwriting and customer onboarding practices are similar across our product offering, we expected to quickly expand our asset-based lending offering to businesses with proven robust sales and history with their account debtors,” Abhi Chakraborty, vice president of credit at SellersFunding said.
“Since SellersFunding is already a trusted source of long-term, non-dilutive financing, the introduction of products such as Factoring and PO Financing was the natural evolution to assist customers with their cash flow needs further,” said Abhi Chakraborty, vice president of credit at SellersFunding, in the announcement. According to the press release, the company plans to make its Invoice Factoring and PO financing products available to both domestic and international small businesses through new and existing partners, brokers, and its existing client portfolio.
SellersFunding previously worked with BigCommerce to bring working capital directly to BigCommerce sellers. The partnership helped sellers facing a “transformative overhaul” access working capital with the resources to get proper funding. This was accomplished through SellersFunding, which supports advertising, inventory management, product research, and development, hiring new talent, or general business expansion for BigCommerce sellers.