Temasek leads $40m funding into invoice marketplace C2FO

Singapore state fund Temasek Holdings has led a $40 million funding round into US-headquartered invoice marketplace startup C2FO, the company announced.

Temasek joins a growing list of C2FO investors including Union Square Ventures, Summerhill Venture Partners, OPENAIR Equity Partners, Mithril Capital, and Tiger Global.

C2FO, which is a fintech startup, said its business had quadrupled in the second quarter compared to the same period for the previous year. The amount of capital flowing through its platform reached a record $5.4 billion for the three months ended June 30, 2015, as against $1.2 billion during the same period a year ago, the company, whose service allows firms to get a discount from their vendors for upfront payment, added.

“Our record growth in the past quarter for existing and new global customers generated a 334 percent increase in working capital flows,” said John Kill, senior vice president and chief financial officer at C2FO.  “Our market operates globally across 15 currencies and multiple languages. As we consistently outpace our year-over-year performance, we continue to attract the attention of world-class partners,” added Kill.

“Our recent funding round led by Temasek is a strong vote of confidence that C2FO has established the leading global business network for working capital,” said Sandy Kemper, C2FO founder and chief executive Officer. “Temasek’s market knowledge and relationships in emerging markets will help C2FO capitalize on the international demand for more effective capital solutions and continue to accelerate our rapid pace of innovation,” added Kemper.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.