Storfund has announced a new partnership that will enable businesses to use the fintech’s cash flow solution on the 400+ marketplaces powered by Mirakl, the leading provider of ecommerce software solutions.
The solution, called Daily Advance, is the first financing product to be embedded on Mirakl Connect. Designed to eliminate the standard delay of 25 days between sale and payout, Daily Advance will see Storfund pay businesses as soon as they ship their goods, improving their cash flow and supporting their growth. The service will be available on marketplaces globally including Macy’s, Nordstrom, Best Buy, B&Q, Decathlon and Carrefour.
The deal comes a few months after Storfund’s launch on TikTok Shop, a partnership which has already seen Storfund finance tens of millions in sales to US sellers. The new partnership with Mirakl will see Storfund offer financing for the $11.2 billion in sales which flow through its platform globally.
Our goal is to revolutionise ecommerce cash flow by making Daily Advance the norm on every marketplace globally, so this partnership is a significant milestone for us. It demonstrates that Storfund’s technology can be deployed anywhere in the ecommerce ecosystem: it is not just a solution for marketplaces and retailers, but also the technology platforms which support those marketplaces and retailers. Mirakl is one of the most innovative tech companies globally and we are delighted to be partnering with them.
– Oliver Whelan, Chief Revenue Officer, Storfund
Unlike more traditional forms of ecommerce financing, Storfund’s Daily Advance is “pay as you go”, meaning it can be paused and unpaused per marketplace as needed. Businesses can choose to use the service only when they make more from it than what they pay for it, so Daily Advance remains a source of revenue, rather than a source of expense.
By giving back control of their cash flow, Daily Advance assists Mirakl in its mission to support brands and sellers to stay competitive in an increasingly demanding market. Storfund’s technology is built for the intensive speed and volume of ecommerce transactions, and the amount sellers can receive each day is virtually unlimited – whether they make sales of $10,000 or $1m, Daily Advance will enable them to maintain their momentum.
Mirakl is always looking to innovate and to challenge the status quo. Making cash flow an enabler, not a barrier, to brands and sellers’ growth is a key pillar of Mirakl Connect’s value proposition as a central hub for multichannel operation management. We are delighted to be launching Daily Advance with Storfund.
– Jane Barge, Vice President, Mirakl Connect
