Invoice Financing, Fintech
Instant Factoring, the first Romanian micro-financing platform for SMEs, attracts an external financing of 1.5 million Euro
November 6, 2018, 10:00:00 PM
Instant Factoring, the first Romanian online micro-factoring company for SMEs, received 1.5 million Euro funding from a US Social impact investment fund. The attracted funds, together with the company's equity, will support the startup’s expansion on the Romanian market enabling microfinance operations for a total invoices volume up to 20 million Euro in 2019. This external investment will support Instant Factoring expansion in other markets in Central and Eastern Europe.
"Attracting this funding will empower us to further finance small Romanian companies and to bring an important contribution to the development of a strong and stable business environment that is so indispensable to our economy and our country. We have not accidentally obtained these funds, one of the reasons for this partnership is precisely the strong social and economic impact of our activity, and it is also an acknowledgement of our positive results to the Romanian society and in the Emerging Europe in the future.
We’ll start the regional expansion process next year having beside us a strong and confident external partner," said Elisa Rusu, CEO and co-founder of Instant Factoring.
Instant Factoring facilitates the development of small businesses by providing them with flexible and innovative financing solutions, by transforming the deadlines of the payment term into liquidity. The financing decision is taken within 2 hours, thanks to the advanced technology that the platform has, and in maximum 24 hours the client receives the money in the account. The whole process is automated and completely online, everything is carried out quickly and transparently and without requiring additional documents. The standard invoices financed by Instant Factoring have values of up to 10,000 lei, but the financing is also granted for larger amounts, through personalized offers. This service can be accessed by any company regardless of size, field of activity and geographical location. This eliminates the barriers imposed on small companies that have an acute need for liquidity and that could access it with great difficulty or not at all through traditional financing methods.
Instant Factoring micro-financing platform targeting small and micro-companies was lauched this year in April and during its 7 month activity has financed 250 clients with an approximate invoices volum of 2 million Euro. Its clients are companies from varios industries such as transportation, consulting services, advertising, FMCG, construction and IT.
”We plan for next year to increase our financing operations and to diversify our products portfolio for SMEs. We closely follow the needs of this segment of companies and are permanently connected to technological developments so as to provide our customers with innovative and efficient products for their business, "added Elisa Rusu.