FinTech Storfund, which provides faster payments for sellers, has partnered with e-commerce platform TikTok Shop to provide what it says is the first fully embedded cash flow solution in a major US marketplace.

Daily Advance enables Storfund to advance money to sellers as soon as they ship their goods to customers.

The company says this addresses a “significant” disparity in the e-commerce market whereby customers can buy online in minutes but marketplaces can delay payouts to sellers for up to 60 days.

The FinTech added that money is legitimately held back by all marketplaces to ensure that sellers have funds available for refunds, but this can hinder their ability to restock and scale up.

There are no limits on the amount of money that sellers receive through the new service and Storfund, with the company saying the move will allow sellers to have more control over their working capital and maintain momentum in their business.

“As we’ve seen on the almost 50 marketplaces where Storfund is available globally, improved cash flow is win-win for sellers and marketplaces and we expect Daily Advance to be instrumental in driving seller growth, and therefore TikTok Shop’s growth,” said George Brintalos, chief executive at Storfund. “We want Daily Advance to be the norm on every marketplace worldwide, so our partnership with TikTok Shop is a huge milestone for us and one that we trust will prove hugely beneficial to U.S. sellers too.”

In May, TikTok Shop announced it had deactivated over one million seller accounts between July and December 2023 and removed their products due to policy violations.

According to a new report released by the social media selling platform, an additional 500,000 creators had e-commerce features removed due to issues including infringing intellectual property rights.

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