SellersFunding, a financial technology provider for e-commerce sellers, added two new products to its lineup of working capital products: invoice factoring and purchase order financing.
“Since SellersFunding is already a trusted source for long-term non-dilutive financing, introducing products like factoring and PO financing was the natural evolution to further assist clients with their cash flow needs,” Abhi Chakraborty, vice president of credit at SellersFunding, said. “Given that credit underwriting and client onboarding practices are similar across our product offering, we anticipated to quickly expand our asset-based lending offering to companies with demonstrated robust sales and history with their account debtors.”
Through the beta rollout of these new products, SellersFunding has originated transactions up to $25 million with a mineral water company, a U.S.-based sports retailer and a U.S.-based equipment manufacturer whose account debtors include warehouse stores (such as Costco and Sam’s Club), grocery chains (such as Publix), sporting goods retailers (such as Academy Sports and Outdoors) and beverage companies (such as Anheuser Busch) in the United States and abroad.
SellersFunding plans to provide these solutions to domestic and international small businesses through relationships with new and existing partners, brokers and its existing portfolio of clients.
