C2FO Secures $30 Million Funding to Expand into Emerging Markets with IFC Support

C2FO, a US-based working capital platform, has raised $30 million in funding to enhance its technology and expand its services in emerging markets. The funding round saw participation from the International Finance Corporation (IFC), a member of the World Bank Group, alongside existing investors. Founded in 2008 and headquartered in Kansas City, C2FO offers dynamic funding and supply chain financing to businesses in over 160 countries, facilitating more than $400 billion in early payments.

The new investment will support C2FO’s continued development, with a particular focus on deepening its presence in emerging markets. In 2024, the platform provided over $13 billion in funding to more than 20,000 businesses across developing nations. This funding is expected to accelerate C2FO’s expansion efforts, especially in regions where access to capital remains limited.

A key component of the funding is the ongoing partnership between C2FO and IFC to build a tailored working capital platform for African markets. This initiative is set to launch in Nigeria later in 2025 and aims to unlock significant financing potential for local businesses.

C2FO believes that the platform will have a transformative impact, particularly for micro, small, and medium-sized enterprises (MSMEs) in Africa. By providing easier access to funding, the initiative has the potential to unlock tens of billions of dollars in annual financing, helping to drive economic growth and job creation in the region.

Source: Africacaptial