💡 Storfund Teams Up with TikTok Shop
Fintech firm Storfund has launched a groundbreaking partnership with TikTok Shop, bringing its Daily Advance solution to the US. Sellers using the TikTok platform can now get paid immediately once their products are shipped. This solves the problem of delayed payouts, which traditionally range from 7 to 60 days. With faster cash flow, sellers will be able to reinvest sooner and scale faster. George Brintalos, CEO of Storfund, says, “This partnership is a major milestone for us and a game-changer for US sellers.”
🚀 Daily Advance: Reducing Cash Cycle for Sellers
Daily Advance allows sellers to halve their cash cycle. For example, Jordan Ellingson, owner of Valley Chase in Minnesota, reduced his waiting period from 14 days to just 7. He says, “For a seller looking to scale their business, Daily Advance is a game-changer.” By cutting cash flow delays, Storfund enables sellers to restock faster, boosting sales and reducing stress. Livestream shopping, which is popular on TikTok, benefits especially from the faster payout.
📈 TikTok’s Growing Influence in Ecommerce
TikTok Shop’s partnership with Storfund comes as the platform grows its ecommerce presence. TikTok Shop's livestream success hit $1M in sales for one seller in June 2024, showcasing the platform's influence. By introducing Daily Advance, TikTok is helping its sellers thrive in this fast-moving marketplace. SMEs, in particular, are benefiting from TikTok’s ability to reach younger consumers, fueling both their growth and TikTok’s own expansion in the US ecommerce market.
💼 Storfund’s Vision for Global Marketplaces
Storfund’s Daily Advance is already available on nearly 50 marketplaces globally, including Amazon and Kaufland. The company aims to expand this solution to more platforms and marketplaces worldwide. Chief Revenue Officer Oliver Whelan said, “Daily Advance gives sellers control over their working capital, enabling them to keep their business momentum going.” Storfund advances up to $7B annually, and the TikTok partnership is a critical step toward revolutionizing ecommerce cash flow on a global scale.
Will Storfund’s solution reshape ecommerce cash flow?
