💼 Partnership Deepens with Mangopay
On October 16, 2024, Storfund announced a significant expansion of its partnership with Mangopay, a key player in the payment infrastructure space. This move brings an embedded wallet solution to sellers on Storfund’s platform. Sellers will enjoy faster access to funds, local payouts, and streamlined currency conversions, thanks to Mangopay’s modular technology. As Storfund’s Chief Revenue Officer Oliver Whelan explains, “By adding new services which amplify our cash flow solution, we are creating a fully comprehensive platform for sellers.”
💰 Benefits for Marketplace Sellers
Storfund serves sellers across 50 major marketplaces, such as Amazon and TikTok Shop. Now, with Mangopay’s embedded wallet and local accounts, sellers can get paid faster and convert funds into multiple currencies. This solution will address the long-standing issue of delayed payments, allowing sellers to receive their money the same day they ship their products, instead of waiting between 7 to 45 days. Over €1B in financing has already been provided to sellers this year alone.
🌍 Simplifying Currency Conversion
International sellers, who make up over 50% of Storfund’s client base, will benefit greatly from this integration. Mangopay’s FX solutions allow sellers to manage and convert funds at favorable rates, guaranteed for fixed periods. This means better control over currency fluctuations and lower fees. Sellers can now transfer funds to suppliers locally or to their own bank accounts with ease, making cross-border transactions faster and cheaper.
📈 Growth Opportunities Ahead
As Storfund continues its mission to improve cash flow for marketplace sellers, Mangopay’s Chief Commercial Officer, Mark Fleming, emphasizes, “We are delighted to support Storfund on their mission to power growth for marketplace sellers everywhere.” This partnership is set to drive business growth by simplifying complex payment flows and providing a scalable solution that meets the evolving needs of the platform economy.
How will faster payouts impact marketplace sellers?
