Supply chain finance (SCF) platforms have become increasingly important in providing financial services within supply chains. However, their role in creating competitive advantage is not well understood. This paper presents findings from an in-depth multiple-case study of four representative SCF service-providing platforms in China, aiming to examine why firms build SCF platforms, the innovative strategies firms adopt to develop SCF solutions, and the impact of these solutions on their business models and their competitive advantage. Data were collected through multiple interviews. The research findings suggest that the value disciplines of SCF platforms evolve through different stages in response to changes in customer needs. This evolution progresses from pursuing product and service leadership to operational excellence and, lastly, to customer intimacy. This study also identifies the various financial products and services provided by these SCF platforms at each stage. It then further points out the direction of creating ecosystem value as the ultimate goal of the SCF platforms. This study enhances the understanding of the innovative roles of SCF platforms and their impact on the development of new business models and gaining a competitive advantage based on value disciplines.