Open Software-as-a-Service (SaaS) e-commerce platform BigCommerce has launched a partnership with lender SellersFunding to bring working capital directly to sellers on the platform.
As the two companies stated in a press release Tuesday, March 29, the partnership will provide sellers with access to SellersFunding’s financial solutions, including working capital, allowing them to “pursue a platform transition to a direct selling model with BigCommerce”.
The companies say BigCommerce merchants facing a “transformative overhaul” who need proper funding can access working capital from SellersFunding to support advertising, inventory management, product research and development, marketing, and marketing. hiring new talent or the overall expansion of the company.
“Both BigCommerce and SellersFunding are dedicated to bringing the most comprehensive set of resources possible to sellers,” said Ricardo Pero, CEO of SellersFunding. “This partnership allows us to complement everyone’s offerings and increase the potential for even more sellers to break through and be the next big name in retail.”
Read more: Working capital alternatives from D2C brands are no longer just for startups
PYMNTS examined the power of working capital alternatives earlier this year, noting that access to finance remains a major hurdle for entrepreneurs. Rather than tangling with venture capitalist banks, many startups are looking for new funding opportunities.
As Karen Webster of PYMNTS wrote, “There are 31 million SMBs in the United States and many more have sprung up in the past two years. Most of them do business with traditional banks, but maybe not for long. Unless, of course, the big banks buy one to offer what they can’t easily afford today.
Read more: BigCommerce launches multiple storefronts to help merchants manage multiple brands in one store
The partnership comes a day after BigCommerce launched Multi-Storefront, a feature that helps enterprise merchants create and manage multiple storefronts in a single BigCommerce store. Merchants can manage their entire business from a single dashboard.