Storfund said to raise $36.5m in fresh funding

January 2, 2021

Storfund, which helps retailers improve their e-commerce operations, has reportedly raised $36.5m in new funding.

Swiss bank Union Bancaire PrivÃ©e supplied the capital, according to a report from UKTN.

Capital will be used expand its operations and help more merchants get access to working capital loans, is said.

The FinTech aims to help e-commerce companies to accelerate their growth. Clients can take control of their cashflow through access to working capital, and enables them to send money around the world.

Clients receive sales on the same day to improve cash flow and is currently available in 14 Amazon marketplaces.

Storfund co-founder George Brintalos told UKTN, â€œWe are here to address the capital needs of this new category of entrepreneurs, providing them with the liquidity they need to naturally grow their business, without adding unnecessary debt on their balance sheet or diluting their share capital base.â€