Invoice Financing, Fintech
Instant Factoring, the Romanian fintech which finances the invoices of small companies, attracts new external financing of 6.3 million euros
December 14, 2021 at 7:00:00 AM
Instant Factoring, the Romanian fintech that provides microfinance to small companies, concludes a new round of external financing of 6.3 million euros, raising the total volume of available capital to 12 million Euros, both for Romania and the entity from Serbia, recently opened. The purpose of the financing is to ensure the necessary capital for the company's development in both markets for next year.
"The new round of financing will help us grow in both markets and, at the same time, invest in technology and software development to accelerate the digital financing processes. Furthermore, it will allow us to develop new financial products and expand our operational capabilities", said Cristian Ionescu, the CEO of Instant Factoring.
Since its launch in 2018, Instant Factoring has benefited from several financing rounds. The current one, of 6.3 million euros, represents capital investment and loans from existing shareholders,45% of the total amount, and an additional loan from US financial creditors of 55% of the total, the latter intended to increase the financing capital of invoices. The funding raises the total volume of available capital of Instant Factoring (both equity and debt) to 12 million Euros for the entities in Romania and Serbia.
Instant Factoring offers flexible digital financing solutions for small businesses that need working capital for monthly turnovers or one-off developments, turning invoices in the payment term from 7 to 90 days into liquidity. The financing decision processes within 2 hours. Within a maximum of 24 hours, the client receives the money in the account. The entire process is fully-online, in a transparent and digitized manner.
Instant Factoring is the first fintech online micro-factoring company in Romania dedicated to small companies and micro-enterprises, and a member of the European Association of Fintech Innovate Finance companies based in London. Instant Factoring is an IFN registered with the National Bank of Romania. By launching the online factoring platform www.instantfactoring.com, the company aims to support the development of small businesses through quick and easy financing solutions with the help of technology.
In 2021 Instant Factoring won the Best Digital Factoring award for SMEs in Central and Eastern Europe, given by SME Banking Club Europe.
More at: www.instantfactoring.com