20 November, 2019
L&L assisted C2FO in its acquisition of Priority Vendor Technologies Private Limited (“Priority Vendor”). C2FO is a US based fintech firm, backed by SoftBank, engaged in the business of providing a technological platform for collaborative cash flow optimization through dynamic invoice discounting. Priority Vendor is India’s largest dynamic discounting platform, which provides working capital solutions to corporates and suppliers of raw material, packing material, transportation and other services to unlock value out of the existing supply chain.
The Firm advised and assisted C2FO on all legal aspects of the transaction which was structured as a share acquisition with C2FO financing the acquisition through a mix of equity and convertible debt.
This is C2FO’s first acquisition in India. This transaction will help C2FO to capitalize on Priority Vendor’s existing presence and accelerate the penetration of C2FO’s proprietary technological platform into Indian markets. Further, it is aimed at improving access to working capital solutions to not just large multinational corporations, but also small and medium-sized enterprises. The transaction will also allow C2FO to retain key talent which will add to its talent pool in India.
L&L Team was led by Partner – Shinoj Koshy ably assisted by Senior Associate – Vipin Sharma and Associate – Aishwarya Mudgil.
Partner- Harish Kumar; Managing Associate – Vivek K. Agarwal and Associate – Aditya Kumar advised on the secretarial aspects associated with the transaction.
