KPMG teams up with C2FO

Thursday 10 April 2014 09:51 CET | News

KPMG in the UK has entered a strategic alliance with C2FO, an online marketplace for working capital, to provide a non-bank source of working capital finance to suppliers.

C2FO is the latest addition to KPMGs Digital Innovation Network and follows the recent announcement of the partnership KPMG agreed with Xero to provide online accounting and tax services, such as accounts, bookkeeping, payroll, VAT and corporate tax to small and medium sized enterprises using the cloud.

Both parties have signed a three year agreement to work together in the UK. No consideration has been paid and the deal does not include any equity stake.

C2FO was founded in 2008 and currently delivers USD 1bn in early payment for suppliers each quarter. C2FO is being used by a number of companies including industry companies in retail, transportation, medical, logistics, and manufacturing.

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Keywords: KPMG, C2FO, UK, working capital, finance, supply chain finance
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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