Funding platform for marketplace sellers marks a year of exponential growth with major milestone
Payability, the leading funding platform for eCommerce businesses, announced that the company has surpassed $3 billion in funding provided to thousands of seller-entrepreneurs.
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“Payability’s funding allowed for us to keep customers happy, keep our business running and grow our revenues by 455%.”
This funding milestone comes following a period of exponential growth for the company: since the beginning of 2020 alone, Payability has provided over $1 billion in funding to eCommerce sellers.
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“Our business’ success starts with the success of the eCommerce sellers we work with. These businesses have proven to be resilient and resourceful, despite challenges that the pandemic brought about this year,” said Keith Smith, CEO and Co-Founder of Payability. “We’re proud to work with them to deliver much-needed funding in an environment where there are fewer options to secure growth capital.”
Payability provides several cash flow and payment solutions. Instant Access provides accelerated daily payments to sellers on marketplaces that pay on delayed terms, giving them the cash flow they need to reinvest in their business and take advantage of growth opportunities. Payability’s Instant Advance product is a capital advance for eCommerce sellers meant for investments in inventory or marketing. Payability doesn’t require credit checks from sellers; instead, the company considers eCommerce-specific factors like sales history, product category, and their supply chain to make their funding offers.
“At such a critical time in our business, we had to make some really quick changes and purchasing more inventory was one of them,” said Gingie McLeod, Founder of Saint Chic. “Payability’s funding allowed for us to keep customers happy, keep our business running and grow our revenues by 455%.”
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