CycleFlow has launched a nationwide working capital platform in Nigeria, aimed at helping businesses turn unpaid invoices into immediate cash and close a long-standing financing gap for small businesses.
The platform, powered by C2FO and backed by the International Finance Corporation, connects suppliers, large companies and financial institutions on one system.
It allows businesses, especially micro, small and medium enterprises (MSMEs), to access cash tied up in approved invoices without collateral.
At full scale, the platform is projected to generate between $25 billion and $30 billion in annual financing for businesses in Nigeria.
CycleFlow Nigeria Chairman, Segun Ogunsanya, says the launch is designed to solve a basic problem where many small businesses deliver goods or services and wait 60 to 120 days to get paid. During that period, they find it difficult to fund operations, pay staff or take new orders.
With this system, once an invoice is approved by a large buyer, the supplier can choose to receive payment early at a discounted rate. The money can come from banks or the buyers themselves.
Segun Ogunsanya, chairman of CycleFlow Nigeria, said the platform addresses a core challenge in the financial system.
“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.”
Across Africa, MSMEs make up about 90% of businesses and account for up to 80% of employment. However, access to credit is still limited. In Nigeria, many of these businesses cannot meet bank requirements such as collateral or long credit histories.
CycleFlow takes the risk away from the small business and ties financing to the credit strength of the larger buyer. That structure allows suppliers to access funds faster and on better terms.
On the economic impact, data from the IFC shows that every $1 million in financing for small businesses can create an average of 16.3 direct jobs over two years.
At scale, the platform could support more than 480,000 direct jobs in Nigeria, with indirect employment running into millions.
Mohamed Gouled, IFC’s vice president for Products & Clients, said the model changes how businesses access capital.
“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.”
The system also removes several limitations common in traditional lending. There are no loan applications, no collateral requirements and no lengthy approval processes. Suppliers decide when to access funds and at what cost.
Alexander “Sandy” Kemper, founder and CEO of C2FO, said the launch in Nigeria marks the start of a bigger expansion.
“This launch kicks off our broader strategy to bring affordable liquidity solutions across Africa and other emerging markets worldwide.”
The platform already operates globally and processes millions of invoices daily. It has funded hundreds of billions of dollars in working capital to businesses since its launch.
CycleFlow’s launch in Nigeria comes as the government focuses on stronger support for small businesses. MSMEs are important to job creation and economic growth but still face funding constraints.
Linking buyers, suppliers and financiers in one system, the platform is expected to improve cash flow across supply chains and reduce delays that slow business activity.
SMEs no longer need to wait months to be paid, they can access their money in days.
