Storfund introduces a breakthrough financing solution to the TikTok store

Storfund’s Daily Advance solves the complexities of e-commerce cash flow on a global scale, and as part of the deal, the solution will be implemented in the US

Fintech Storfund has announced a new partnership with TikTok Shop that will bring the first fully embedded cash flow solution to the US mainstream market, an innovative solution that will benefit merchants with high growth potential on the social media app.

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Under the new product, called Daily Advance, Storfund will credit sellers as soon as they ship their goods. This aims to eliminate significant disparities in the rapidly changing e-commerce world, where customers can buy online in minutes but marketplaces can delay payments to sellers by up to 60 days. Money is legally withheld on all marketplaces to provide sellers with the means to refund their money, but this may disrupt their ability to restock inventory and scale sales.

As part of the partnership, TikTok Shop is comprehensively embedding the proprietary solution on its platform, which is the first major U.S. marketplace to do so. By giving its rapidly growing sellers the ability to access faster payouts, Daily Advance will help TikTok Shop continue to disrupt the e-commerce industry as the social media app continues to support its sellers and its own growth trajectory.

George Brintalos, CEO of Storfund, said: “As we have seen in the nearly 50 markets where Storfund is available globally, improved cash flow benefits sellers and markets. We expect Daily Advance to play a key role in driving seller growth and that’s why we want Daily Advance to be the norm in every market around the world, which is why our partnership with TikTok Shop is a huge milestone for us and we hope it will bring huge benefits to sellers too in the USA.

Merchants using the Daily Advance benefited from faster access to financing. Jordan Ellingson’s Valley Chase company in Minnesota sells on the TikTok store. He explains that it can take as little as a week from order to sale, especially if he’s hosting a live stream, but it can usually take another week to get paid. Jordan said: “For the retailer looking to scale their business and ultimately reduce cash flow stress, the Daily Advance is a game changer!”

Livestream shopping is proving to be a success for TikTok’s US store, with SMEs able to use content to connect with buyers rather than relying on searches; in June this year, TikTok Shop hosted its first $1 million livestream for one of its sellers.

In Jordan’s case, the Daily Advance reduced its cash cycle from 14 days to seven. “The ability to forecast and plan has made a tangible difference in my daily activities,” Jordan added. “I can plan my orders and don’t have to say, ‘I think I should get paid tomorrow,’ because I can count on Stofund.” By cutting its cash cycle in half, Valley Chase can restock inventory and double sales in twelve months.

Storfund is the only Daily Advance provider that has solved the complexities of e-commerce cash flow on a global scale by first developing the technology to enable integration with multiple marketplaces, then creating an embedded solution that can be deployed across marketplaces and even platforms such as payment service providers.

“Unlike traditional financial products, Daily Advance is designed for the high speed and volume of e-commerce transactions, giving high-growth merchants control over their working capital,” said Oliver Whelan, Storfund’s chief revenue officer. “There are virtually no limits to what businesses can receive, whether they achieve $10,000 or $1 million in sales in one day, the Daily Advance will enable them to maintain their momentum.”

SMEs are the backbone of the U.S. economy, and online marketplaces offer business owners a significant opportunity to reach new, younger and even global consumers. If e-commerce revolutionized the way people shop, the Daily Advance Storfund promises to revolutionize the way sellers can thrive.

About Stofund

Founded in London in 2018, Storfund provides up to $7 billion annually to sellers on Amazon, TikTok Shop, Back Market, Kaufland and many others. Our mission is to keep e-commerce cash *flowing*.

We started Storfund with a simple idea: marketplace sellers should get paid immediately for their sales, just like traditional retailers.

Marketplaces account for more than 50% of purchases in a $5 trillion global industry, but sellers wait 7 to 45 days for payment. Storfund pays sellers on the day of shipment.

www.stofund.com

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Hana Graham, Storfund Marketing Director

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