Open Software-as-a-Service (SaaS) eCommerce platform BigCommerce has launched a partnership with lender SellersFunding to bring working capital directly to the platform’s sellers.
As the two companies said in a news release Tuesday (March 29), the partnership will let sellers access SellersFunding’s financial solutions, including working capital, allowing them to “pursue a platform transition to a direct-to-consumer model with BigCommerce.”
The companies say merchants on BigCommerce facing a “transformative overhaul” that need proper funding can access working capital from SellersFunding to support advertising, inventory management, product research and development, hiring new talent, or overall business expansion.
“Both BigCommerce and SellersFunding are dedicated to putting the most comprehensive set of resources possible at sellers’ fingertips,” said Ricardo Pero, CEO of SellersFunding, said. “This partnership allows us to complement each other’s offerings and heighten the potential for even more sellers to break out and be the next big name in retail.”
Learn more: D2C Brands Working Capital Alternatives Not Just for Startups Anymore
PYMNTS examined the power of working capital alternatives earlier this year, noting that access to financing remains a chief barrier to entrepreneurs. Rather than tangle with banks of venture capital firms, many startups are looking for new funding opportunities.
As PYMNTS’ Karen Webster wrote, “There are 31 million SMBs in the U.S. and a lot of new ones that have been birthed over the last two years. Most of them bank with traditional banks — but maybe not for long. Unless, of course, the big banks buy one of them to deliver what they can’t easily enable today.”
Read more: BigCommerce Debuts Multi-Storefront to Help Merchants Manage Multiple Brands in One Store
The partnership comes one day after BigCommerce’s launch of Multi-Storefront, a feature that helps enterprise merchants create and manage multiple storefronts within one BigCommerce store. Merchants can manage their entire businesses from one dashboard.
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