Fulfin provides e-commerce companies with working capital and accepts the companies' goods as collateral. This allows online shops to quickly access funds, for example, to purchase new goods. Fulfin uses a proprietary risk scoring system and a proprietary collateralization model, which it uses to assess creditworthiness by analyzing bank and e-commerce data. Such flexible financing options for online brands are problematic for banks.
“It is also very important to our clients to grow as quickly as possible and to reach their full potential without wasting critical months searching for investors,”
leads Fulfin Co-Founder Alfred Gruber out of.
“And even if it succeeds, with Fulfin’s approach, there’s usually more left over for the entrepreneur in the end.”
The startup has recently had extremely successful months during the Corona pandemic: In the second quarter alone, Fulfin was able to increase its sales by a full 200 percent compared to the first quarter, as co-founder Nathan Evans announced in #CoronaUpdate In addition, Fulfin has been able to bring well-known partners on board and has recently started cooperating with, among others, Penta Bank. Evans explained:
"Our strong growth proves that there is a strong need for an innovative financial partner specializing in online business. We see an exciting opportunity here to help thousands of e-commerce companies across Europe improve their liquidity and sustainably finance their growth."
Satisfied with Fulfin's successes so far
"We are very pleased with Fulfin's successes to date and look forward to supporting the Fulfin team in continuing the company's impressive development. The team has the right combination of expertise in bank-independent financing, e-commerce, and risk management,"
says Markus Kreipl from Hevella Capital.
"Last but not least, the proprietary platform and risk scoring model provide the essential foundation for redesigning working capital financing for e-commerce retailers in an innovative and well-founded way."
Fulfin plans to use the mid-seven-figure funding to further develop its lending platform and proprietary scoring algorithm and establish itself as a leading financial partner for the e-commerce industry.
