PingPong, a global supplier of finance solutions for e-commerce marketplace sellers, has partnered with SellersFunding to provide marketplace sellers with a new and cutting-edge funding solution.
“Although plenty of lending options exist, many are not a good fit for e-commerce sellers,” explains Tim Jordan, an executive strategist for PingPong. “In the e-commerce space, most sellers are in the start-up phase and do not qualify for typical lending. They do not always have assets for collateral, long-term business financial history, or a qualifying credit score. As a result, many promising e-commerce sellers are unable to scale quickly even though they may have exceptional products and growth potential.”
While most lending solutions require typical credit checks and qualifications, Sellersfunding provides lending offers based on the seller’s marketplace information, usually gathered through the marketplace API. Information such as inventory velocity, seller reviews, and revenue projections are calculated and used to create a lending offer. This is what makes Sellersfunding so cutting-edge and customer-focused.
The PingPong and Sellersfunding partnership enable the introduction of innovative lending solutions to international sellers. PingPong’s ability to transfer funds and navigate the complex legal and compliance restrictions required by cross-border finance transfers ensures it can take lending solutions cross-border as well.
“Global e-commerce has become a reality,” says Ricardo Pero, CEO of SellersFunding, “and by partnering with a company like PingPong, we can now provide access to competitive working capital solutions for our international clients using PingPong’s multi-currencies e-wallet to disburse and collect funds globally. Giving e-commerce merchants going global an alternative to leverage their worldwide sales to get funding wherever they are is a huge differentiator in the industry, and we believe the integration being further developed between the two companies is unique in the e-commerce space, addressing a fundamental need from our clients.”
Although relatively new in the e-commerce space, both companies represent billions of dollars and more than 70,000 active users. The further integration of their cutting-edge services holds the promise of further growth for both companies as well as the overall success of e-commerce entrepreneurs.
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Release ID: 88926803