Fintech Leader SellersFunding Closes Series A to Power Success of Ecommerce Sellers
SellersFunding, a global fintech company empowering growth for ecommerce sellers, today announced it secured $166.5M in a combination of Equity and Credit Facility, with an investment round led by Northzone, and additional investments from Endeavor Catalyst and Fasanara. The funding will fuel the company’s ambitions to help ecommerce sellers succeed in today’s dynamic market environment and scale globally.
Northzone, an early stage venture capital fund partnering with founders at early-stage, across Europe and the US, was a lead investor on the funding round. SellersFunding joins Northzone’s impressive portfolio of category-defining businesses including Klarna, Spotify, Hopin and Trustpilot, among others.
Endeavor Catalyst, a co-investment vehicle designed to support Endeavor Entrepreneurs with their equity financing rounds, also supported the funding round. SellersFunding is a member of the Endeavor Entrepreneurs Network, a global non-profit that has advised and helped scale more than 1,000 high-impact companies in 40+ growth markets around the world.
The investment will see SellersFunding enhance its technology and payments platforms, and support its operational and international expansion. As a U.S.-headquartered company, SellersFunding will continue to expand across North America, and also the United Kingdom, Continental Europe and Australia, to establish a presence for its growing global customer base. In addition, the investment will bolster sales and marketing efforts and help SellersFunding bring aboard even more talented professionals to the team.
The additional credit facility increase from European investment manager Fasanara comes after the company’s $100 million funding program with Fasanara in January 2021. The funding will be used across USD, GBP, EUR and CAN currencies to enhance SellersFunding’s liquidity.
“We are thrilled to complete our capital raise and have Northzone and Endeavor joining our company, and to see the renewed commitment of Fasanara in supporting the expansion of our portfolio,” said Ricardo Pero, CEO of SellersFunding. “This underscores our dedication to providing world-class financial solutions for our clients and partners and is a testament to the overall growth of the global ecommerce space.”
Northzone, Endeavor Catalyst and Fasanara share a word on their commitments:
“Ecommerce is exploding, but we are still lacking sufficient financial solutions that serve the small, international merchants driving this boom,” said Jeppe Zink, General Partner at Northzone. “By offering seamless access to non-dilutive capital, SellersFunding is doing a superb job at meeting sellers’ needs. We have been amazed by Ricardo and his team’s ability to redefine business lending and become leaders in this category.”
“We’re excited to partner with Ricardo and his team on this next stage of growth for SellersFunding,” said Allen Taylor, Managing Director at Endeavor Catalyst. “These are the building blocks of tomorrow’s economy, and we can’t wait to help SellersFunding expand globally.”
“We believed in the potential of SellersFunding and its disruptive business model from early stage, and we are pleased to see the company continue to grow,” said Francesco Filia, CEO and CIO of Fasanara. “We are eager to further our relationship with SellersFunding in the years to come.