C2FO, a working capital platform company, announced its completion of a $30 million funding round with the International Finance Corporation (IFC), a member of the World Bank Group, and existing shareholders.
This funding round will help accelerate the technical development and expansion of C2FO’s global platform to focus on emerging markets.
IFC’s investment in C2FO highlights a shared commitment to boosting jobs and strengthening economic opportunities in emerging markets for micro, small and medium enterprises (MSMEs) worldwide. And C2FO’s innovative platform utilizes advanced technology to deliver dynamic funding, enabling suppliers, predominantly smaller businesses in regions like Africa to access working capital faster and more efficiently than through traditional financing.
This funding follows the announcement of IFC’s strategic partnership with C2FO to develop a Nationwide Working Capital Platform across Africa, starting in Nigeria. And this initiative, which is expected to launch later in 2025, has the potential to unlock tens of billions of dollars in annual financing for African MSMEs.
C2FO’s platform makes working capital accessible to all businesses, allowing them to access funds tied up in accounts receivable through dynamic discounting and supply chain financing programs. And with operations around the globe, C2FO already facilitates a material amount of liquidity to emerging markets. Last year, over $13 billion in funding was provided to over 20,000 businesses in developing nations around the world through C2FO.
As C2FO continues growing, it remains dedicated to its mission of providing accessible and efficient working capital solutions, empowering businesses to thrive in an increasingly competitive landscape. And the strategic and financial support from IFC is a pivotal step in realizing this mission and expanding the impact of C2FO’s services on a global scale.
KEY QUOTES:
“IFC provides more than capital — our expertise in supply chain finance and fintech is instrumental in scaling C2FO’s operations. This initiative will unlock the economic potential of smaller suppliers who cannot easily access needed working capital, driving growth and jobs.”
- Farid Fezoua, IFC Global Director for Disruptive Technologies, Services and Funds
“Having IFC as an investor is a great honor for us and a catalyst that will accelerate our shared mission to fully scale a global, durable, inclusive and sustainable platform for the world’s businesses.”
“C2FO believes when everyone has the capital they need to grow, everyone benefits. It fosters innovation, job growth and a more resilient economy. That’s why we’ve created a platform where businesses can access low-cost, efficient working capital on demand without the burdens of traditional credit-based lending.”
- C2FO CEO and Founder Alexander “Sandy” Kemper
