Antworten auf häufige Fragen
Antworten auf häufige Fragen
Storfund is a UK-based fintech providing financing to marketplace sellers. It was founded in London 2018 by long-time friends George Brintalos and Akbar Ahsan. Read more about Unsere Geschichte.
We have an easy three step process.
Step 1: You apply online. This is 2-3 minute process, we only need basic company information and your permission to view your sales volume for the last 12 months.
Step 2: We set up a call to hear more about your business. If you are interested in using Storfund, you grant us access to your marketplace sales data, based on this we will make you a fee offer.
Step 3: You provide us with ID, sign our agreement and if required, complete a personal guarantee.
Step 1 of the application process takes 2-3 minutes. If you complete this one of the Storfund Account Managers will contact you for an informal discussion, and the information you have supplied will ensure the meeting is tailored to your business.
Unser Service wurde entwickelt, um die Bedürfnisse von Marktplatzverkäufern mit hohem Wachstum zu erfüllen. Um sicherzustellen, dass es für Ihr Unternehmen geeignet ist, wenden wir die folgenden Zulassungskriterien an:
– Your monthly turnover must be at least £25,000, €30,000 or $35,000.
– Your business must be a registered company, a limited liability partnership or similar incorporated entity.
– Your business established for at least 12 months, and must have been active on your marketplace for at least six months.
– Your account health must be in “good standing.”
– Your business must be registered in Canada, EEA, UK or US, and under certain circumstances, China, Hong Kong or Australia.
Providing you are based in Canada, EEA, UK or US (and under certain circumstances, China, Hong Kong or Australia), you can apply to Storfund.
Our service is available on 18 Amazon marketplaces plus Back Market, Cdiscount, Fyndiq, Octopia, PcComponentes, Rakuten and +350 Mirakl marketplaces including Leroy Merlin, Conforama, BUT and Media Markt.Our service is available on 18 Amazon marketplaces plus Back Market, Cdiscount, Fyndiq, Octopia, PcComponentes, Rakuten and +350 Mirakl marketplaces including Leroy Merlin, Conforama, BUT and Media Markt.
No. We can only work with businesses that are set up as a registered company, limited liability partnership or similar incorporated entity.
No, unfortunately not. As Amazon does not have an API for Vendor Central sellers, we are unable to read sales data.
In order for us to perform our due diligence checks we need to see your marketplace sales data (Seller Central if you are an Amazon seller). This will also allow us to calculate the fee we can offer you.
On Amazon, please note, we have to ask for ”view and edit” access as “view only” isn’t possible on all parts of Seller Central. We will never edit any of your information and all of your data is protected by our signed agreement.
To verify your identity when applying, you will be asked to provide:
1. Name, date of birth and residential address for all shareholders who hold ownership of 25% or more.
2. Name, date of birth and residential address for all directors.
3. One of the following documents in PDF format:
Articles of incorporation
Certificate of incorporation
4. Bank statement dated within the last three months showing one full month of transactions.
5. ID to complete verification for all shareholders over 25%.
6. Your VAT number.
As part of our due diligience we carry out verification checks on each business we work with. To do this we partner with Detected, who will store all your documents securely.
Yes we do carry out an Experian credit check.
In some cases, a personal guarantee may be required from sellers. This is a fairly standard/ fairly commonplace practice in (unsecured) financing and it is just a way to formally secure our position as we do not have any other form of guarantee on the credit we cash advance.
Once you have been accepted as a client, we will open an additional bank account for you. You will need to change your account with your marketplace to this new account.
Your new bank account allows Storfund to receive payouts from your marketplace ie it enables us to get repaid for the funds we have advanced to you. The new bank account is in your name but funds are transferred directly from this account to us.
Yes. We are registered and supervised for anti-money laundering purposes only by the UK’s Financial Conduct Authority. Our FCA Firm Reference number is 807894.
This can vary dependent on type of business and location. Your account manager will be able to advise once you have applied.
Yes. Everyone that joins us receives their first two weeks free. If you decide the service isn’t for you, you can cancel at any time.
If you would like to speak to us before applying, email us at firstname.lastname@example.org with your preferred contact number and location and an account manager will be in touch.
Our account managers speak a variety of languages including; Arabic, English, Farsi, French, German, Greek, Hindi, Italian, Mandarin, Polish, Spanish, Urdu.
Yes, we do. If you refer a seller to us, you will receive £1,000/ €1,000/ $1,000. New clients must meet our eligibility criteria and use our service for one month (they will also benefit from our two-week free trial).
We charge a low, fixed % of your net sales, and no other fees. Visit our pricing page for more information. The actual % will be agreed with your account manager once you have applied.
Net sales = Gross sales minus refunds and marketplace fees, including advertising fees eg Amazon PPC
Having the “request transfer” button will result in a lower cost. This is because our 2% fee is based on a 14 day repayment cycle. If you press the button daily your daily rate will actually be 2%/14. You will also receive 20% of whatever Amazon pays us when you press the button, with no delays.
Here’s an example to explain this clearly:
On day 7, $5,000 out of a total Amazon balance of $10,000 are available. On day 14 Amazon will settle the full amount.
A. If you do not click on the request transfer button and wait for Amazon to disburse automatically on the 14th day your Storfund fee will be:
10,000 x 2% = $200
B. If you click on the request transfer button on day 7 you will pay a fee of
5,000 x (2%/14) x 7 days = $50
PLUS you will receive 20% of the $5,000 Amazon payout.
Then on day 14, when Amazon pays out the remaining $5,000 you will pay:
5,000 x (2%/14) x 14 days = $100
Total fee = $150
Our fees start at 1.5% of your net sales and how we determine your exact fee will depend on:
– The overall health of your business, such as: speed of growth, return rates, any suspensions or red flags on your marketplace account.
– How many marketplaces you use our service on.
Your fees are calculated daily. For example (can we show the formula here?)
Storfund will invoice you monthly.
Using the service
Storfund finances matured receivables. Simply put, we advance you money that you are owed from your marketplace, on sales you have actually made. The benefit of this is that your cash flow isn’t delayed by lengthy marketplace payment terms.
No. Our service is invoice financing, or factoring. Unlike a loan, we don’t charge interest and our funds doesn’t appear as debt on your balance sheet.
You will receive 80% of your Nettoumsatzes. sales each day (Net sales = Gross sales minus marketplace fees and refunds)
The reason we advance 80% of your daily sales, and not 100%, is because we allow for any refunds you may have to make. This saves you having to pay us back, so you can make refunds out of your 20% ‘buffer’.
Im Laufe der Zeit, wenn wir Sie und Ihr Unternehmen besser kennen, kann es möglich sein, den Vorschussbetrag zu erhöhen.
No, there is no limit to how much you can receive from us each day. Our funding means we can provide our clients with up to £5B/5.8B EUR/$6.2B.
This could happen if more than 20% of your sales are refunds. If you continue to sell, we will adjust what’s owed to us in the next marketplace payout. One of the team will contact you to understand the circustances more fully and provide advice based on our experience with other clients.
We are unable to make payments on weekends and UK public holidays. As a UK business we are unable to make payments on UK non-business days when payments systems are closed; you will receive your funds the following business day.
We pay in the same currency as your marketplace, unless you request a different one.
We pass on our wholesale FX rate, we don’t make any profit on currency conversion.
Because the Storfund service is directly integrated/embedded with the marketplace, an API sends us your sales data daily. This means there’s no need to request payments or submit sales data.
We comply with applicable UK and EU regulations concerning the protection of your data.
Yes, you can cancel anytime, please speak to your account manager. If there are outstanding fees due to us we will arrange the repayment of these with you.
Yes, you can do this from your dashboard under Store.
You can use your advance to pay for anything related to your business, such as restocking, paying suppliers or marketing costs.
If you wish to cancel and there are outstanding fees due to us, your account manager will work with you to arrange the repayment of these.
Yes, you can export all of your data into excel from your Storfund dashboard.
Not currently, however this is something we are working on developing. For now you can export all of your data from your dashboard.
In the event of any irregularities in your performance data, we may need to temporarily pause your Storfund account while we investigate.
Yes. We will pay your advance amount daily, providing it exceeds £200 (or its equivalent in local currency); on any day the advance is less than this you would not receive payment from us that day, and payment would only be made once your aggregate amount equals or exceeds £200.
For example, if you were due £100 from us on Monday you would not receive a payment; but if Tuesday’s due payment is £150, then you will receive £250 on Tuesday. The minimum payment applies to each marketplace you sell on and each location within a marketplace, e.g. Amazon France and Amazon Germany; the threshold is not on your combined totals.
On days the amount due to you falls below £200, you will receive payment once your accrued advance equals or exceeds this amount. Marketplace payouts are not subject to a threshold so you would receive these as normal.
If you can’t find answers to your questions on this page, get in touch.
If you are a client, contact your account manager; if you are thinking about using Storfund, fill out the form and we’ll be touch.