US fintech start-up SellersFi secures new credit facility of up to $300m
SellersFi, a New York-based fintech start-up offering financial solutions for e-commerce platforms, has secured a fresh credit facility of $135 million with Citi and Fasanara Capital, with the potential to grow up to $300 million as the company scales.
SellersFi secures new credit facility of up to $300m
Citi has provided the senior capital with a portion coming from Fasanara, while the mezzanine capital has been furnished solely by Fasanara, which has been a finance partner for the start-up since 2020.
Founded in 2017, SellersFi, formerly known as SellersFunding, leverages its AI-driven credit scoring models to offer working capital and cash management solutions to e-commerce merchants.
In 2021, the start-up raised $166.5 million in a mix of equity and debt as part of its Series A funding round.
Commenting on the new facility, Ricardo Pero, co-founder and CEO of SellersFi, says: “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.”
SellersFi also recently secured an undisclosed equity investment from MUFG Innovation Partners (MUIP), which it plans to deploy towards developing its product offerings, expanding its portfolio and improving its technological infrastructure.
