WESTON, Fla.–(BUSINESS WIRE)–SellersFi, a global, cutting-edge financial technology startup, closed a new US credit facility with Citi and independent asset manager Fasanara Capital for $135MM with the potential to grow up to $300M as SellersFi expands. The senior capital is provided by Citi with a portion from Fasanara and the mezzanine capital is provided by Fasanara. Also, Fasanara is renewing its commitment in SellersFi by continuing its support to SellersFi as senior lender for other jurisdictions and products. The new investment will be deployed to further develop SellersFi’s innovative product offerings, expand its portfolio, and enhance its technological infrastructure.
Ricardo Pero, co-founder and CEO of SellersFi said, “We are delighted to secure this credit facility with Citi, one of the largest banks in the world, and having Fasanara Capital renew its trust in SellersFi’s team, strategy and products. 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.”
“This collaboration underscores our commitment to delivering excellence in financial services and strengthens our ability to meet the dynamic needs of our clients. We are excited about the opportunities that lie ahead and are confident that this funding will pave the way for continued success and growth,” said Abhi Chakraborty, CFO at SellersFi.
“Fasanara has been a finance partner to SellersFi since February 2020,” said Francesco Filia, CEO at Fasanara. “This new facility builds on the existing relationship. We are excited to once again work with SellersFi and welcome the new credit facility from Citi.” Fasanara provides flexible and innovative capital solutions to meet SellersFi’s evolving needs.
SellersFi, formerly SellersFunding, is a global financial technology company that utilizes AI driven credit scoring models and extensive integration with leading e-commerce platforms to offer working capital and cash management solutions to empower e-commerce merchants looking to grow. As e-commerce evolves, SellersFi will drive the fintech innovations that allow sellers and brands to worry less about funding and finance and to focus more on growth and achieving their business goals. From inventory and marketing to product launches, international expansion, and more, thousands of e-commerce sellers trust SellersFi to achieve limitless Success.
To learn more about SellersFi and its transformative financial solutions, visit www.sellersfi.com.