Record-Breaking Year for C2FO Marks Shift in Trade Finance Landscape.

C2FO, the world’s on-demand working capital platform, announced that in December it had surpassed $400 billion in lifetime funding to its customers and achieved $1 billion of daily funding for the first time. These milestones reflect a significant shift in the business financing landscape, with companies increasingly seeking more effective sources of financing as they move away from relying solely on banking and credit-based lending for working capital.

In 2024, C2FO facilitated the early payment of more than 42 million invoices, which were paid an average of 32 days early to the companies comprising the supply chains of over 200 of C2FO’s global enterprise clients, including six of the Fortune 10 companies.

The demand for alternative sources of working capital shows no signs of slowing after years of exponential growth for the fintech founded in 2008. C2FO reached $400 billion in accelerated funding just over a year after surpassing $300 billion in funding in July 2023. Reliable sources of working capital continue to be an issue for small businesses. Loan approval rates for small businesses from large banks remained below 50% for the fourth consecutive quarter and saw a continued decline throughout 2024, according to results from the Small Business Lending Survey released by the Federal Reserve Bank of Kansas City in December.

Source: PRNEWSWIRE