Intelligent Issue 05 | Page 9



Storfund set to offer US $ 1bn to e-commerce SMEs
Storfund , a technology driven global e-commerce funding enterprise , has raised US $ 36.5 million of capital through the Private Debt team of Swiss bank Union Bancaire Privée ( UBP ) and private investors .
This fresh investment will be used to expand Storfund ’ s global operations and help marketplace merchants access working capital and unlock liquidity .
In its initial 18 months of operations , Storfund has enjoyed rapid growth , fast becoming a leading e-commerce funder in Europe .
Between December 2019 and December 2020 Storfund saw a 1,200 % growth and expects to continue this growth trajectory for the next two years .
This year , Storfund aims to provide US $ 1 billion of cash advances to e-commerce merchants selling on Amazon and other European , American and Asian marketplaces .
Storfund ’ s API driven propriety technology brings innovation and efficiency to the receivables finance industry which has been unable to serve e-commerce merchants due to its traditional approach .
SureCloud secures multi-million-pound investment to accelerate growth
Integrated risk management and cybersecurity provider , SureCloud , has secured a multi-million venture debt facility from growth lending specialists , BOOST & Co .
News of the funding comes just as SureCloud moves on its plans for growth in the UK , as well as its plans for expansion into the US .
The funding from BOOST & Co , a fast-growing alternative lender
SureCloud CEO , Richard Hibbert that invests in high-growth SMEs , also acts as a vote of confidence in the new direction SureCloud is forging , that is expected to change the industry landscape significantly .
SureCloud has been operating for more than 15 years , supporting the governance , risk and compliance ( GRC ) market and cyber and risk advisory services of major corporate firms .
The company operates across multiple sectors , including banking , manufacturing and government , implementing flexible , cloud-based solutions that focus on user experience , data aggregation and Artificial Intelligence that helps clients de-mystify risk , compliance and cybersecurity .
Fleet telematics specialist Vimcar connects 100,000th company car
Andreas Schneider , Cofounder and Managing Director of Vimcar
Vimcar , the fleet management software for small and medium-sized companies , has reached a significant milestone in its company growth – connecting its 100,000th company vehicle .
Since its founding in 2013 , Vimcar has recorded more than 222 million journeys , over 2.7 billion miles , saving SMEs more than 141 years in time by empowering them to optimise the efficiency of their fleets .
Vimcar entered the UK market last summer with its Fleet Geo product .
Andreas Schneider , Co-founder and Managing Director of Vimcar , said : “ It ’ s incredible to think of what we ’ ve achieved and hitting 100,000 connected cars is a huge moment for Vimcar . This milestone is a real testament to the hard work of our team and the support of our SME customers .
“ Our customers choose us because we develop the product specifically to meet their needs – to be easy to use , to increase efficiencies , to save them time and money , and working in partnership for mutual success .”
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