Fintech Startup SellersFunding Secures $166.5m, Plans To Continue Developing Its Technology And Payments Platforms For eCommerce Businesses

Fintech startup SellersFunding has raised $166.5 million in a combination of Series A equity funding and a credit facility and plans to use the funds to continue developing its technology, as well as its payments platforms for e-commerce businesses. The funding round was led by venture company Northzone and entertained the participation of Endeavor Catalyst and Fasanara.

The breakdown of the funding was undisclosed, but Chief Executive Officer of SellersFunding, Ricardo Pero, mentioned that the company previously raised two seed rounds for a total of $40 million in equity and more than $100 million in credit facilities, including one that the company was expanding to $200 million.

Founded in 2017, SellersFunding provides a digital platform that delivers financial tools and resources to streamline global commerce for thousands of marketplaces, including working capital, cross-border cash management, tax solutions, and business valuation. In addition to being a lending source for businesses selling on these marketplaces, SellersFunding leverages on sales data provided by the marketplaces and e-commerce platforms to create sales and cash flow estimates based on the credit limits given to clients so that owners can better understand the fees they are paying and make more informed decisions.

SellersFunding has consistently grown 300 percent year-over-year, Chief Executive Officer Ricardo Pero said. The company currently has over 30,000 registered users and is approaching $10 billion in sales volume. A major source of income for SellersFunding comes from the fees it charges for payments.

Endeavor Catalyst and Fasanara gave remarks on their involvement with SellersFunding. “We’re excited to partner with Ricardo and his team on this next stage of growth for SellersFunding. These are the building blocks of tomorrow’s economy, and we can’t wait to help SellersFunding expand globally”, Managing Director at Endeavor Catalyst – Allen Taylor, said.

Franscesco Filia, the CEO and CIO of Fasanara said that “We believed in the potential of SellersFunding and its disruptive business model from an early stage, and we are pleased to see the company continue to grow. We are eager to further our relationship with SellersFunding in the years to come”.

Northzone, the leader of the round, commended SellersFunding for its services. JeppeZink, a General Partner at Northzone said that “by offering seamless access to non-dilutive capital, SellersFunding is doing a superb job at meeting sellers’ needs. We have been amazed by Ricardo and his team’s ability to redefine business lending and become leaders in this category”.

With the new funds, the fintech startup said it plans to scale globally, expand its team, create a marketing budget, and look for two small acquisitions in the U.S. and Europe. The company said that it will continue to invest on the payments side and promote cross-border payments.