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C2FO

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C2FO
Company typePrivate
IndustryFinancial technology
Founded2008
FounderSandy Kemper
HeadquartersKansas City, MO, United States
Productsdynamic early payment program, working capital marketplace, supplier early payment portal, short-term cash optimization
Websitewww.c2fo.com

C2FO is a financial technology company and the creator of the first market for working capital. C2FO operates the C2FO working capital market for companies of all sizes around the world.[1] C2FO is the only working capital exchange that allows companies to "Name your rate" to improve cash flow and to increase profit.

The company was founded in January 2008 by Sandy Kemper, former CEO of UMB Financial Corporation. [2] C2FO was previously known as Pollenware. The name changed to C2FO based on customer feedback that the market delivered collaborative cash flow optimization or C2FO, an acronym for what the market provides.

The first C2FO market clearing took place in 2010, and quickly earned the attention and backing of venture firm Union Square Ventures which is well known for the investment in other fast growing companies like Twitter and Zynga.[3] In Q2 2015, C2FO completed a $40MM round of equity funding led by Temasek, a global investment company based in Singapore.[4] Temasek joined a growing list of world-class C2FO investors including Union Square Ventures, Summerhill Venture Partners, OPENAIR Equity Partners, Mithril Capital, and Tiger Global. In Q1 2016, Citi Ventures became the newest investor to support C2FO's continued global expansion. [5] [6] [7]

C2FO posted its first $1 billion quarter in the fourth quarter of 2013. It experienced dramatic growth during 2014, handling $2.9 billion worth of transactions in the fourth quarter of 2014, with $1.4 billion of that happening in December.[8] In September, 2015 C2FO announced it had reached the $1 billion-a-week milestone for the amount of working capital trading on its platform.[9]

In the past six years, C2FO has generated more than $57 billion in working capital flows volume and over 220 million days of accelerated payment.

Working capital marketplace

C2FO provides a transparent marketplace for companies to deploy and secure working capital. Using the market, suppliers can request early payment from buyers on approved invoices. If early payment is awarded the funds are facilitated directly from the buyer to the supplier.[10]

C2FO enables collaboration between buyers and suppliers in a real-time marketplace to discover the unique price for early payment that's profitable for both.[11]

C2FO does not process payment or hold funds. The market is operated in an online environment with no fees or contracts for suppliers. C2FO currently operates in multiple currencies and is available in all countries. The market is a direct exchange between existing customers with no intermediaries or financial institutions, so it is free from regulation .[12]

Market Insights in the Media

CNBC interviewed Chris Dark, President International of C2FO, on their Shake It Up program and asked him to explain how C2FO functions as the world's first marketplace for working capital. Dark discussed how C2FO benefits big customers such as Costco, Amazon and Pfizer and brings value to their suppliers at the same time.[13]

In May, 2015, Karen Mills, Senior Fellow with Harvard Business School composed an article discussing the importance of small businesses in America and the three things they need to thrive, including access to working capital. In the article, Mills cited C2FO as an innovative new entrant in accounts receivable lending.[14]

The Supplier Finance Survey, fielded by C2FO, polled leading UK corporate treasurers in Q4 2015, and shows that most treasury functions are looking into the value of accelerating payment to suppliers. The majority (71%) of corporate treasurers believe invoice discounting can act as a means for the Treasury to provide tangible value add, according to the research. [15] Suppliers are getting paid late across the globe, but it’s a particular problem in the U.K., where late payments have led to high-profile political action and lawsuits. [16] The research also found that 96 percent of treasurers agreed that the role of supplier financing services is on the rise. [17] [18]

City A.M. interviewed Colin Sharp, SVP EMEA for C2FO, and discussed C2FO's innovative approach to invoice financing. [19]

Recognition & Awards

In early 2015, C2FO was named to Global Finance magazine's 'The Innovators 2015' list [20] and received the 2015 Impact Award, from the American Cities Business Journals.

In December 2015, C2FO was recognized by Forbes as one of the most important financial tech companies on the magazine's 2015 Forbes Fintech 50 List.[21] After considering more than 300 fintech companies, C2FO was recognized by for its ability to help solve the Liquidity Paradox, through its unique marketplace model. C2FO was also the only company listed from the dynamic discounting category.

H2 Ventures and KPMG also named C2FO to their 2015 Fintech 100 list of startups from around the world who are taking advantage of technology to revolutionize the industry by offering fresh, new, disruptive ideas.[22]

The Supply Chain Finance Community has named C2FO among the six shortlisted vendors in its 'Open RFI' project, launched on behalf of a group of Dutch corporations.[23]

Global Footprint

C2FO is headquartered in Fairway, KS. The company has offices around the globe.

  • London
  • Hong Kong
  • San Francisco
  • Seattle
  • Frankfurt
  • Singapore

References

  1. ^ Kansas City Business Journal: C2FO. Kansas City Business Journal, October 10, 2014.
  2. ^ "C2FO's Sandy Kemper: How this entrepreneur creates entirely new markets". Kansas City Business Journal August 12, 2016.
  3. ^ Union Square Ventures Blog: Pollenware. Union Square Ventures, September 5, 2012.
  4. ^ Wall Street Journal: C2FO. Wall Street Journal Daily Startup Blog August 11, 2015.
  5. ^ Treasury Management International: C2FO Receives Strategic Investment from Citi Ventures Treasury Management International, February 1, 2016.
  6. ^ Silicon Prairie News: C2FO Adds Citi Ventures As a Strategic Investor Silicon Prairie News, February 5, 2016.
  7. ^ Shared Services: Citi Ventures becomes latest prominent C2FO investor Shared Services Link: February 2, 2016.
  8. ^ Kansas City Business Journal: C2FO. Kansas City Business Journal, January 8, 2015.
  9. ^ Kansas City Business Journal: C2FO Kansas City Business Journal, October 19, 2015.
  10. ^ Kansas City Business Journal: C2FO. Kansas City Business Journal, October 10, 2014.
  11. ^ The Motley Fool: C2FO. The Motley Fool, April 15, 2014.
  12. ^ Bloomberg TV: Pollenware. Bloomberg TV, September 12, 2012.
  13. ^ CNBC: C2FO. CNBC, October 1, 2015.
  14. ^ Harvard Business Review: C2FO Harvard Business Review, May 27, 2015.
  15. ^ Finextra: Invoice discounting gaining ground in corporate treasury Finextra.com, February 10, 2016.
  16. ^ PYMNTS: Treasurers’ Real Thoughts On Invoice Discounting PYMNTS.com, February 11, 2016.
  17. ^ PYMNTS: Treasurers’ Real Thoughts On Invoice Discounting PYMNTS.com, February 11, 2016.
  18. ^ Treasury Today: Unlocking the Ties in Working Capital treasurytoday.com, April, 2016.
  19. ^ City A.M.: How Alternative Financing is Making Supply Chain Finance Sexy, Q&A with C2FO's Colin Sharp CityAM.com, April 28, 2016.
  20. ^ Global Finance Magazine: C2FO Global finance Magazine, June 12, 2015.
  21. ^ Forbes: C2FO. Forbes.com December 9, 2015.
  22. ^ Fintech 100: C2FO Finch Innovators December 15, 2015.
  23. ^ The Paypers: C2FO The Paypers, November 10, 2015.
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