Monday, July 22, 2024
HomeFunding FL-based SellersFi Secures Funding of Undisclosed Amount

[Funding alert] FL-based SellersFi Secures Funding of Undisclosed Amount

FL-based SellersFi secures funding of undisclosed amount with Citi and independent asset manager Fasanara Capital for $135MM with the potential to grow up to $300M as SellersFi expands.

FL-based SellersFi secures funding of undisclosed amount with Citi and independent asset manager Fasanara Capital for $135MM with the potential to grow up to $300M as SellersFi expands.

Citi provides the senior capital while Fasanara provides junior capital in the transaction. Also, Fasanara is renewing its commitment in SellersFi by continuing its support to SellerFi as senior lender for other jurisdictions and products.

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The new investment will be deployed to further develop SellersFi’s innovative product offerings, expand its portfolio, and enhance its technological infrastructure.

Ricardo Pero, cofounder and CEO of SellersFi, said “We are delighted to secure this credit facility with Citi, one of the largest banks in the world, and having Fasanara Capital renew its trust in SellersFi’s team, strategy and products. In the current macro environment, this is an important milestone for enabling our growth with both existing and new partners and answering the financing needs of thousands of e-commerce businesses.”

Abhi Chakraborty, CFO at SellersFi said, “This collaboration underscores our commitment to delivering excellence in financial services and strengthens our ability to meet the dynamic needs of our clients. We are excited about the opportunities that lie ahead and are confident that this funding will pave the way for continued success and growth,”.

Francesco Filia, CEO at Fasanara said, “Fasanara has been a finance partner to SellersFi since February 2020, This new facility builds on the existing relationship. We are excited to once again work with SellerFi and welcome the new credit facility Citi.” Fasanara provides flexible and innovative capital solutions to meet the SellersFi’s evolving needs.”

About SellersFi

SellersFi, formerly SellersFunding, is a global financial technology company that utilizes AI driven credit scoring models and extensive integration with leading e-commerce platforms to offer working capital and cash management solutions to empower e-commerce merchants looking to grow.

Read also – CA-based Chalk Secures $10M in Seed Funding

As e-commerce evolves, SellersFi will drive the fintech innovations that allow sellers and brands to worry less about funding and finance and to focus more on growth and achieving their business goals.

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