CycleFlow powered by C2FO and IFC Launch Supply Chain Finance Platform in Nigeria, Transforming Access to Finance for Nigerian MSMEs
LAGOS, Nigeria, April 2, 2026 /PRNewswire/ — CycleFlow, powered by C2FO, the world’s on-demand working capital platform, has officially launched its operations in Nigeria. This move marks the first phase of a comprehensive Nationwide Working Capital Platform strategy designed for Africa and other emerging markets. With support from various banking partners, the platform has already secured multiple multinational and local customers.
C2FO logo (PRNewsfoto/C2FO)
The platform will connect global and local financing institutions with participating anchor buyers and their MSME suppliers. Financial institutions, as well as participating buyers, will be able to extend affordable short-term financing to suppliers by purchasing and discounting invoices accepted for payment by the buyers. These transactions will allow MSMEs to improve working capital by converting sales receivables immediately to cash, based on the better credit risk of buyers and without any collateral requirements, thus leveling the playing field among larger and smaller suppliers. The launch marks the beginning of a multi-phase strategy to scale inclusive working capital solutions across the continent and into other emerging markets and has already secured commitments from multiple multinational and local customers.
“The official launch of C2FO’s Working Capital Platform in Nigeria marks a turning point for our financial ecosystem,” said Segun Ogunsanya, Chairman of Nigeria-based CycleFlow. “By enabling immediate access to funds locked in accounts receivable, we are not just financing businesses; we are powering economic growthacross the entire ecosystem. This innovative technology addresses the biggest financial challenges in Africa and ensures that capital reaches the micro, small and medium enterprises (MSMEs) that drive our economy.”
When fully scaled, the platform has the potential to facilitate $25 to $30 billion in annual financing for local businesses in Nigeria – making it one of the most significant dedicated supply chain financing facilities ever deployed for smaller businesses in Africa. The multi-bank, multi-buyer platform connects suppliers, including MSMEs, with their larger buyers and financial institutions on a single open infrastructure, removing traditional intermediary barriers and enabling affordable financing at scale.
MSMEs are the engine of Nigeria’s economy and of Africa’s at large. Across the continent, they account for up to 90 percent of all businesses and are responsible for up to 80 percent of employment. Yet despite their outsized role, these enterprises face a persistent and structural barrier: access to affordable working capital. Traditional financial institutions typically require collateral, established credit histories, and lengthy approval processes that most MSMEs cannot meet. The result is a financing gap that constrains growth, limits hiring, and leaves viable businesses unable to reach their potential.
The C2FO platform directly addresses this gap. Rather than relying on the creditworthiness of the MSME itself, the platform leverages the stronger credit profile of the buyer, typically a large multinational or established local enterprise to unlock receivables financing for suppliers. This means that an MSME with an invoice accepted for payment by a large buyer can convert that receivable into immediate cash, without collateral and without the delays of traditional lending. For businesses that routinely operate on payment terms of 60, 90, or even 120 days, this access to liquidity is transformational.
“This initiative is a proof point for what development finance can achieve when it is paired with the right technology and the right partners,” said Mohamed Gouled, IFC’s Vice President for Products & Clients. “Millions of MSMEs across Africa are sitting on receivables they cannot convert into much-needed capital to grow and hire. This platform changes that equation. By connecting suppliers, buyers, and financial institutions on a single, open infrastructure, we are helping unlock financing that could support hundreds of thousands of jobs in Nigeria alone and we see this as a replicable model for the rest of the continent.”
The expected economic impact is significant. IFC research indicates that every $1 million financing provided to MSMEs in developing countries creates an average 16.3 direct jobs over a two-year period, a trajectory that, when the platform is fully scaled, points to the creation of more than 480,000 direct jobs in Nigeria. Furthermore, accounting for indirect employment, research points to a multiplier effect of three to five times the initial job creation figure. This surge in stable employment drives consumer spending, as newly employed individuals gain purchasing power and stimulate demand across the local economy, creating a self-sustaining cycle of growth that could boost Nigeria’s GDP by 1 to 2 percent.
“Today marks a crucial milestone for our mission to ensure every business has the capital needed to thrive,” said Alexander “Sandy” Kemper, Founder and CEO of C2FO. “Nigeria is not just a market opportunity; it is a chance to show how innovative financial technology transforms economies. By optimizing cash flow for buyers and providing flexible funding options for suppliers, we create a more resilient global economy. This launch kicks off our broader strategy to bring affordable liquidity solutions across Africa and other emerging markets worldwide, utilizing the groundbreaking platform and technology we have spent over 15 years perfecting across 180 countries.”
About C2FO: C2FO is the world’s on-demand working capital platform, providing businesses with fast, flexible, and equitable access to low-cost capital. C2FO creates trust and transparency in working capital finance through its solutions using patented Name Your Rate® technology that lets companies get paid sooner by the world’s largest enterprises. Currently serving hundreds of thousands of business customers globally, the platform has delivered more than $500 billion in risk-free capital since it started. Founded in 2008 and headquartered in Kansas City, USA, with offices around the globe, C2FO’s mission is to ensure every business has the capital needed to thrive. Learn more at c2fo.com.
About CycleFlow: CycleFlow is a Nigeria-based working capital and supply chain finance partner leveraging the C2FO platform. CycleFlow supports the expansion of digital financing solutions designed to improve cash flow for suppliers by connecting suppliers, buyers, and financial institutions through technology-enabled receivables and early-payment solutions.
About IFC: IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
