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SellersFunding Launches Invoice Factoring and Purchase Order Financing Products

June 20, 2022, 08:12 AM
Filed Under: Industry News

SellersFunding, a fintech provider for ecommerce sellers, announced the addition of two new products to its robust lineup of working capital products, Invoice Factoring and Purchase Order (PO) Financing.

Invoice Factoring and PO Financing support SellersFunding clients to help grow their wholesale footprint. The flexibility of the products will allow SellersFunding to expand their offering to businesses outside of the ecommerce space.

"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," says Abhi Chakraborty, VP of Credit at SellersFunding. "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 globally-based mineral water company, a U.S.-based sports retailer and a U.S.-based equipment manufacturer whose account debtors include well known 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 U.S. 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.

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