-R: Segun Ogunsanya, Chairman, Cycleflow Limited; Dahlia Khalifa, Regional Director, Central Africa and Nigeria, International Finance Corporation (IFC); Jumoke Oduwole, Minister of Industry, Trade, and Investment; Emomotimi Agama, Director General, Securities and Exchange Commission/Representing Wale Edun, Minister of Finance and Coordinating Minister of the Economy of Nigeria; and Alexander “Sandy” Kemper, Chairman/CEO, C2FO, during the Official Launch of Cycleflow powered by C2FO in partnership with the IFC, in Lagos, on Thursday, 2nd April, 2026.

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.
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 growth across 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, multibuyer 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 $486 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.

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