Citi Ventures invests in C2FO
28 January 2016 | 4615 views | 0
Citi Ventures has made a strategic investment in Kansas City-based working capital marketplace C2FO. Terms of the arrangement have not been disclosed.
Citi's venture fund joins the likes of Temasek and Union Square Ventures as backers of C2FO, which operates a market where suppliers and buyers negotiate prices based on when invoices will be paid.
C2FO says that it create a seamless match between accounts receivable and accounts payable, helping suppliers take control of their cash flow and buyers increase Ebitda and gross margin and earn a better return on short-term cash.
Having recently opened offices in Germany, Singapore, Hong Kong and India, C2FO says that it will use the Citi money to continue it geographic growth.
Arvind Purushotham, co-head, venture investing, Citi Ventures, says: "C2FO's rapid global growth demonstrates the value of solutions that promote a healthier supply chain. We're excited to support C2FO's highly efficient marketplace that simplifies and optimizes cash flow for businesses."