CycleFlow, an on-demand working capital platform powered by C2FO, has launched its operations in Nigeria. The 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.

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.

Chairman of Nigeria-based CycleFlow, Segun Ogunsanya, said: “The official launch of C2FO’s Working Capital Platform in Nigeria marks a turning point for our financial ecosystem.

He noted that when fully scaled, the platform has the potential to facilitate $25 to $30 billion in yearly 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.

For businesses that routinely operate on payment terms of 60, 90, or even 120 days, this access to liquidity is transformational.

IFC’s Vice President for Products and Clients, Mohamed Gouled, said: “This initiative is a proof point for what development finance can achieve when it is paired with the right technology and the right partners.”

The expected economic impact is significant. IFC research indicated that every $1 million in financing provided to MSMEs in developing countries creates an average of 16.3 direct jobs over two years, a trajectory that, when the platform is fully scaled, points to the creation of more than 480,000 direct jobs in Nigeria.