Storfund, a fintech marketplace, has extended its partnership with Mangopay to integrate a plethora of new payment capabilities for its sellers on the platform.
The fintech will now leverage Mangopay’s embedded wallet, local accounts and FX solutions to boost the support for those setup on Storfund with additional payment and treasury solutions.
Sellers can now manage pay-ins, payouts and hold balances with greater ease through the extended solutions from Mangopay. Storfund will also look to advance funds to a new embedded wallet to allow sellers greater access to funds at a quicker rate, converting multiple currencies to pay to local suppliers, or transfer to their own accounts.
Storfund Chief Revenue Officer, Oliver Whelan, said: “Storfund sits at the intersection of financing, payments and technology; by adding new services which amplify our cash flow solution, we are creating a fully comprehensive platform for sellers. Mangopay’s capabilities make it the ideal partner to elevate the Storfund platform to the next level.”
Storfund provides cash flow solutions to sellers to almost 50 marketplaces globally, including Amazon, TikTok Shop, Back Market, and Kaufland.
Earlier this year, the fintech marketplace hit €1bn in financing to sellers, as a growing number of small businesses adopted cash flow solutions as opposed to traditional forms of financing, such as credit or loans.
Mark Fleming, Chief Commercial Officer at Mangopay, added: “At Mangopay we are focused on driving business growth, both for the platforms we serve and their users. We do this by simplifying complex payment processes and enabling platforms to create the payment flows they need to succeed.
“Storfund is a business with an incredibly exciting opportunity, and we are delighted to support them on their mission to improve cash flow challenges and power growth for marketplace sellers everywhere.”
