SellersFunding, the first-to-market provider of a turn-key integrated financial services solution for sellers on Amazon, Shopify, Magento and other marketplace and eCommerce platforms, today announced their global expansion to online sellers in Canada, the United Kingdom, and the European Union.
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The overall eCommerce market continues to grow at a fast pace. This graphic shows Q3 2020 results for the industry as well as the even larger growth seen by SellersFunding clients that are eCommerce marketplace and direct-to-consumer SMBs. (Graphic: Business Wire)
By combining access to working capital, daily advances and global cross-border payment features, the US-based fintech company has become the first in the industry to provide eCommerce sellers around the world an end-to-end solution for stabilizing cash flow while growing their business.
“There has been unprecedented growth in eCommerce sales this year, with a 44 percent increase in Q3 2020 for U.S. online sellers alone,” said Ricardo Pero, Chief Executive Officer of SellersFunding. “During that same period of time, our entire client portfolio has seen, on average, an 85 percent increase in sales compared to the previous year. Notably, of those, our merchants selling across borders have done even better, with a 95 percent increase in sales. This shows the incredible growth happening in eCommerce, particularly internationally, and is why SellersFunding is rapidly expanding our capabilities to help sellers scale their businesses globally.”
SellersFunding’s new integrated financial services solution includes:
- Access to up to $1 million in working capital to increase reach and grow product inventory.
- Daily advances on Amazon up to 90 percent of the previous day’s sales to achieve consistent, predictable cash flow.
- Digital Wallet features, with global currency exchanges to collect marketplace payouts, including a global supplier pay feature with the ability to send payments to China in RMB.
“We understand that about half of the sellers in any given marketplace are international,” Pero continued. “Because eCommerce is global, and so is our business model, we are adding the full functionality of more countries to the Digital Wallet based on demand.”
In addition, SellersFunding offers customers a streamlined onboarding experience, intuitive features and customized business insights through a proprietary algorithm for forecasting marketplace sales growth potential and extensive marketplace analytics.
“Our entire SMB customer base of more than 12,000 sellers has successfully migrated to the new platform,” said Tim Jordan, SellersFunding’s VP of Growth. “Through the combination of working capital solutions and a robust cross-border payment infrastructure under one platform, we are uniquely positioned to provide the best support possible for the needs of eCommerce sellers globally. And our recent investment into these new regions shows that we are committed to growing our platform capabilities to support our clients’ business growth.”
SellersFunding operates a global financial platform which provides financial tools focused solely on online marketplace sellers. Their machine-learning model offers working capital to businesses frequently not eligible due to their global expansion, coupled with a robust currency exchange and transfer system, making it a “one-stop-shop” for marketplace sellers.