Canada-based Summerhil; Venture Partners has joined investment firm Mithril in raising C2FO growth funding to a total of USD 18 million.
Mithril, a San Francisco-based technnology investment firm, led the deal and was joined by current investors Union Square Ventures which initiated the company's "B" round. OpenAir Equity, another C2FO existing investor, led the "A" round.
"Technology is the key to solving the world's most pressing challenges," said founder and managing general partner of Mithril, Ajay Royan, adding, "by enabling the flow of working capital to become more efficient and less expensive, C2FO has the potential to revolutionize business transactions, allowing for greater progress in a number of areas. Mithril's goal is to help the world's most outstanding creative minds build lasting companies that unlock powerful creative and economic potential, and we believe C2FO is one such company."
Fairway, Kansas-based C2FO, which operates a financing site for various businesses, was founded in 2008 and has been supported by ventures since 2011.
The market was established to provide financial assistance to companies around the world to improve cash flow and efficiences in profit.
C2FO has achieved a delivery of more than USD 4 billion in cash flow and generation more than USD 300 million worth of new capitalization for its customers, including Fortune 1000 units around the globe.
C2FO CEO and founder Alexander Kemper commented on the achievement, saying, "we were looking for a partner with a global reach and a strong presence in financial technology and market structure. Mithril brought this to the table and added the extra elements of keen product and tech understanding. We are delighted to have them with us as we continue to build our global platform."
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