Instant Factoring, the first Romanian company for online micro-factoring for SMEs, has received a financing of €1.5 million from an investment fund in the United States.
The new funds, together with the company’s equity, will support the expansion of its activity on the Romanian market by developing microfinancing operations for a volume of invoices totaling up to €20 million in 2019. External financing accessed by Instant Factoring will support the expansion of the company in other markets in Central and Eastern Europe.
“Attracting this funding will allow us to further support small Romanian companies and to contribute to the development of a healthy and stable business environment that is so indispensable to our economy and our country. We didn’t accidentally obtain these funds, one of the reasons for the partnership is precisely the strong social and economic impact, and it is also a recognition of our positive results in the Romanian society and in the future in the emerging Europe. It is important that we have new trusted external partners that will guide us in the process of regional expansion we plan to launch next year,” 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 converting the invoiced bills into cash. The financing decision is taken within 2 hours thanks to the advanced technology available to the platform, and within 24 hours the client receives the money in their account.
The entire process is automated and completely online, all being fast and transparent and without the need for additional documents. Instant Factoring-funded bills have values ??up to USD 10,000, but funding is also granted for larger amounts through personalized offers. This service can be accessed by any company regardless of size, activity, and location.
This removes the barriers imposed on small companies that need acute liquidity and who could access it with great difficulty or not at all by means of classical financing methods. The Instant Factoring microfinance platform, aimed at small businesses and micro-enterprises, was launched in April this year, and in the 7 months of activity, it has attracted 250 customers with a volume of EUR 2 million in funded bills. The company’s customers come from various activity sectors such as transportation, consultancy and advertising, FMCG, construction and IT.
Instant Factoring is the first fintech online micro-factoring company in Romania dedicated to small companies and micro-enterprises, and a member of Fintech Innovate Finance’s European Association of Companies, based in London. Instant Factoring is an IFN registered with the National Bank of Romania.
