A London-based fintech has set out to provide $1 billion of cash advances to eCommerce merchants selling on Amazon and other online marketplaces.

Founded in 2018, Storfund offers an end-to-end solution for stabilising cash flow, providing entrepreneurs with the liquidity they need to naturally grow their business.

According to a recent survey 24 per cent of UK businesses report late payments as a threat to their survival, the highest reported level across Europe.

Storfund mitigates this risk by plugging in directly to the seller’s account and can be turned on and off at any time – providing funds for a small fee to cash-strapped businesses as and when they need it.

Read it all at the Source: Fintech aims to provide $1 billion in cash advances to Amazon’s army of small businesses