E-commerce fintech SellersFunding secures $166.5m investment
US-based e-commerce fintech SellersFunding has secured $166.5 million in a combination of equity and a new credit facility from a Series A funding round led by Northzone, with participation from Endeavor Catalyst and Fasanara.
The SellersFunding digital platform provides a suite of financial solutions to streamline global commerce for marketplaces. The suite includes solutions for working capital, cross-border cash management, tax management and business valuations.
The investment will see SellersFunding enhance its technology and payments platforms, as well as support its operational and international expansion. It will seek to continue its expansion in North America, while also targeting the UK, continental Europe and Australia.
In addition, the company says the investment will allow it to bolster sales and marketing efforts and increase its headcount.
SellersFunding joins Northzone’s portfolio, which includes Klarna, Spotify, Hopin and Trustpilot.
The additional credit facility stems from European investment manager Fasanara and follows a $100 million funding programme with the firm in January 2021. The funding will be used to enhance SellersFunding’s liquidity.