Storfund has made several key hires as it expands to major marketplaces worldwide.
The London startup offers retailers immediate payment on the sales they make, eliminating the long wait for payment that is standard on marketplaces and which causes a cashflow problem for small businesses.
Following early success on Amazon, it has now turned its attention to the growing number of marketplaces worldwide, securing partnerships with Cdiscount, France’s largest marketplace, PcComponentes, a leader in Spain, and Back Market, a pioneer in the circular economy.
David Rolls joins from Amazon consumer payments lending to lead product development at Storfund. He led the global expansion of Amazon’s third party lending program and onboarded new strategic partners, including Marcus by Goldman Sachs in the US and ING in Germany.
Rolls also had 12 years’ experience in corporate and investment banking in Asia, Europe, the Middle East and North America prior to joining Amazon.
“David brings an invaluable combination of eCommerce and financial services experience,” said George Brintalos, CEO of Storfund.
“His time building small business financing programmes for Amazon means he has unique insight into the funding needs of eCommerce retailers.”
This is the third significant hire by Storfund after it also appointed Margaret-Anne Galvin as head of partnerships and Hana Graham as head of marketing.
Galvin joined Storfund from Cdiscount, bringing experience of the needs and aspirations of marketplaces, while Graham has spent the last decade in financial services marketing, including the global insurance broker, Gallagher.
“We are building an outstanding team of talented and experienced professionals to deliver the very best solutions for our clients, be they ecommerce retailers or marketplaces,” said Akbar Ahsan, Storfund’s co-founder.