UK startup Storfund raises £300M for their Ecommerce marathon
London-based Storfund has scored the sum of £300 million in debt-equity from Fasanara Capital, a direct £100 million investment and £200 million more delivered with Storfund’s expansion into China. Storfund is specializing in factoring, thus providing e-commerce retailers with immediate payments on sales. The company has managed to raise so far a total of more than £325 million.
Storfund which was founded back in 2018, helps e-commerce sellers drive sales and increase profitability by shortening their cash cycle, thus allowing them to purchase additional inventory and never run the risk of being out of stock.
Fasanara Capital’s CEO Francesco Filia comments, “Storfund is a true tech-first company, capable of delivering globally; it just needs the funds to reach scale. They’ve built their brand on transparency, particularly on pricing, and on international reach which has helped them win large, experienced retailers as clients.”
Storfund is Amazon’s only approved global provider, delivering our service in 17 out of Amazon’s 20 marketplaces, plus we have a fast-growing footprint of marketplace partnerships across Europe. Almost 50% of online purchases worldwide are made on marketplaces, but retailers grapple with exceptionally long cash cycles, as marketplaces hold back consumer payments to facilitate returns and refunds. We will deploy the investment to increase cash flow to retailers, bridging the gap between sale and payment.
“Marketplaces have been the big winners in the rise of ecommerce; they provide an unrivalled platform for retailers of all sizes to expand throughout the world and they’ve built the necessary infrastructure to support this – but they know their retailers can’t thrive without liquidity and fast access to cash,” said Storfund co-founder Akbar Ahsan. “It’s the demand from both ends – retailers and marketplaces – which makes Storfund’s service so attractive.”
Source: Storfund “Storfund Lands £300M ($410) eCommerce Financing Deal”