Fintech firm SellersFunding raises $166.5 million in Northzone-led round
(Reuters) – Fintech startup SellersFunding has raised $166.5 million through a mix of equity and debt in a funding round led by early-stage venture capital fund Northzone, the company said on Tuesday.
Northzone is an investor in popular names such as Swedish payments firm Klarna and streaming provider fuboTV Inc.
SellersFunding’s latest round also saw investments from Endeavor Catalyst, the corporate venture capital arm of Endeavor Global, and alternative asset manager Fasanara, it said.
The funds will be used to add to the London- and New York-based company’s technology and payments platform besides supporting operational and international expansion. The company plans to also strengthen sales and marketing efforts and attract more talent.
SellersFunding, which has more than 40,000 users on its app, offers a suite of financial solutions for e-commerce marketplaces to manage their working capital, cross-border cash management, tax solutions and business valuation, among others.
The company’s free analytical tool, Sellers Signals, provides insights on areas including sales performance and business valuation, its website showed.
Fasanara’s investment in SellersFunding follows a $100 million funding program here by the European investment manager in January.
Reporting by Sohini Podder in Bengaluru; Editing by Shailesh Kuber