Prioritizing Customers: C2FO Uses Innovation to Help Everyone Win

C2FO is an on-demand working capital platform that connects businesses through an inclusive financial system, providing an easy, low-cost way for companies to increase cash flow by receiving early invoice payments from their customers. Ragui Selwanes, the company’s chief product and technology officer, says the company’s strategy for innovation is built on the company’s dedication to prioritizing customers and giving every business it works with the
working capital it needs to succeed.

Since 2010, the C2FO platform and its innovative financial products have funded more than $351 billion in payments for companies globally. However, the company’s success is not only seen in its monetary progress but also in the way it runs its operations.

“It would be impossible to have the exponential growth we’ve seen without our ability to stay innovative, relevant and competitive,” Selwanes says.

C2FO’s network is comprised of more than 1 million companies matching more than $2 trillion of accounts receivable and accounts payable, with an average of 45 million invoices being uploaded daily. To keep up with this expansive network and large scale, C2FO focuses on implementing innovation into the company to expand its influence and availability through “automation and workflow optimizations,” Selwanes says.

C2FO attributes its success to its innovative strategy and culture. In an evolving industry like financial services, Selwanes says one must be prepared for a wavering economy. Thanks to its innovative philosophy, C2FO has been able to adapt rather than simply survive the recently turbulent capital environment for the last two years. In fact, by using its platform’s data and technology, C2FO can reduce the risk that typically makes it difficult for banks to make loans.

C2FO’s commitment to partnering with business owners from underrepresented groups further contributes to its notable success. In 2023, C2FO financed more than $5 billion in capital for both women-owned and minority-owned businesses.

“Giving equitable access to capital fuels diversity in thoughts and ideas and is critical to supporting innovation in business for everyone,” Selwanes says.

The main driver of innovation at C2FO is the passion its team has for their collective efforts to ensure that every business has the capital needed to prosper. C2FO provides an environment that fosters growth improvement, and each employee is given equal opportunity to succeed and contribute ideas. Thanks to this type of culture, employees at C2FO understand that the company’s success and commitment to innovation start with its customers. To enhance development and dialogue, the company hosts several Hackathons every year that bring together teams from every department. These collaborative efforts allow great ideas to be shared, debated and put into practice. At C2FO, any idea will be heard and met with transparency and productive feedback, according to Selwanes.

In tandem with valuing teamwork, leadership is also an important factor in C2FO’s continued growth and success, with the company’s executives encouraging team members to take risks and break boundaries while providing guidance to propel teams of entrepreneurs to success.

Selwanes says that in a constantly changing economic environment, companies need to be able to address the individual needs of their clients. C2FO provides companies with “features and functionality that some traditional supply chain finance programs managed by large banks cannot.”

C2FO believes that when businesses have access to the capital they need, everybody wins. With effective discipline, persistence, and cooperation from the entire team, C2FO is able to efficiently achieve its goals and continue to contribute to the creative development of the specialty finance sector. •