Financial technology firm C2FO raises $200 million from SoftBank fund

SoftBank will invest $200 million from its Vision Fund in C2FO, a Leawood, Kansas-based financial technology company that runs a “working capital” marketplace.

Founded in 2008, the company created a market for working capital. C2FO facilitates early payments for businesses looking to increase liquidity through an online platform connecting suppliers that need cash with buyers that have it.

“We invested in C2FO because we think their disruptive innovation offers a solution to an industry that has traditionally lacked cost-efficient alternatives for businesses of all sizes looking to free up cash quickly,” Akshay Naheta, managing partner for SoftBank Investment Advisers, said in a press release.

Softbank, a Japan-based holding company, has invested in a number of tech companies over the past year and owns more than 80% of Sprint, the Overland Park, Kansas-based wireless carrier.

Company founder Masayoshi Son created the $100 billion Vision Fund in 2017, with nearly half the money coming from the Saudi government, according to CNN. The fund is Uber’s largest shareholder.

C2FO plans to use the money to improve access to working capital for large corporations as well as small and mid-sized businesses, the release said.

“This infusion of capital from the Vision Fund and existing investors will be used to further our expansion as we strive to build a new world wherein the increased liquidity provided by the C2FO platform helps companies and in turn, entire economies, grow more rapidly,” Sandy Kemper, C2FO founder and CEO, said.

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