C2FO

C2FO is a financial technology company and the creator of the first market for working capital. C2FO operates the C2FO working capital market.[1]

C2FO

Type	Private
Industry	Financial technology
Founded	2008
Founder	Sandy Kemper
Headquarters	Leawood, KS, United States
Products	dynamic early payment program, working capital marketplace, supplier early payment portal, short-term cash optimization
Website	www.c2fo.com

The company was founded in January 2008 by Sandy Kemper, former CEO of UMB Financial Corporation.[2] C2FO was previously known as Pollenware. The name changed to C2FO based on customer feedback that the market delivered collaborative cash flow optimization or C2FO, an acronym for what the market provides.[3]

The first C2FO market clearing took place in 2010, and received backing of venture firm Union Square Ventures, known for investing in companies like Twitter and Zynga.[4] In Q2 2015, C2FO completed a $40MM round of equity funding led by Temasek, a global investment company based in Singapore.[5] Temasek joined a list of C2FO investors including Union Square Ventures, OPENAIR Equity Partners, and Mithril Capital.[6][7] In Q1 2016, Citi Ventures became the newest investor.[8][9][10] In Q1 2018, C2FO completed a $100MM funding round led by Allianz X and Mubadala Investment Company, along with strong participation from existing C2FO investors: Temasek, Union Square Ventures, and Mithril Capital.[11] In August 2019, the company announced the completion of a $200 MM funding round led by the SoftBank Vision Fund with additional participation from Temasek and Union Square Ventures. The investment is designed to accelerate C2FO's development of new markets to further improve access to working capital for companies globally - not just large multinational corporations, but also small and medium-sized enterprises. [12]

In Q1 2018, C2FO partnered with White Oak Global Advisors, LLC, to offer receivable financing options to C2FO's network of businesses in the U.S.[13]

C2FO posted its first $1 billion quarter in the fourth quarter of 2013. It experienced growth during 2014, handling $2.9 billion worth of transactions in the fourth quarter of 2014, with $1.4 billion of that happening in December.[14] In September 2015, C2FO announced it had reached the $1 billion-a-week milestone for the amount of working capital trading on its platform.[15]

Since its first transaction in May 2010, C2FO has generated more than $245 billion in working capital flow volume and more than 912 million days of accelerated payment.[16]

Office locations

C2FO is headquartered in Leawood, Kansas. The company has offices around the globe.

• Frankfurt
• Hong Kong
• London
• Mumbai
• San Francisco
• Seattle
• Singapore

References

1. Kansas City Business Journal: C2FO. Kansas City Business Journal, October 10, 2014.
2. "C2FO's Sandy Kemper: How this entrepreneur creates entirely new markets". Kansas City Business Journal August 12, 2016.
3. Silicon Prairie News: Pollenware Raises 9.1 Million Round Led by Union Square Ventures Silicon Prairie News September 6, 2012
4. Union Square Ventures Blog: Pollenware. Union Square Ventures, September 5, 2012.
5. Wall Street Journal: C2FO. Wall Street Journal Daily Startup Blog August 11, 2015.
6. Tech Crunch: Mithril, Led by Peter Thiel and Ajay Royan, Closes on Roughly $850 Million TechCrunch: January 19, 2017
7. Peter Thiel’s Mithril Capital Raises $850 Million VC Fund Bloomberg: January 19, 2017
8. Treasury Management International: C2FO Receives Strategic Investment from Citi Ventures Treasury Management International, February 1, 2016.
9. Silicon Prairie News: C2FO Adds Citi Ventures As a Strategic Investor Silicon Prairie News, February 5, 2016.
10. Shared Services: Citi Ventures becomes latest prominent C2FO investor Shared Services Link: February 2, 2016.
11. Allianz Investment Arm Co-Leads Funding Round in Fintech C2FO Bloomberg: February 27, 2018.
12. SoftBank Vision Fund Leads Fintech C2FO's $200 Million Round Bloomberg: August 7, 2019.
13. White Oak Partners with C2FO on New Venture Globe News Wire: April 12, 2018.
14. Kansas City Business Journal: C2FO. Kansas City Business Journal, January 8, 2015.
15. Kansas City Business Journal: C2FO Kansas City Business Journal, October 19, 2015
16. C2FO Website C2FO website, July, 2019