An Amsterdam based fintech start-up Factris is evolving the financial markets of Europe with its innovative financial solutions. The company is said to help Small and Medium-Sized Businesses (SMEs) by converting their invoices into money in a span of just a day- 24 hours.
It is very essential for Small and Medium-Sized Businesses to learn and change with time. Risk is a crucial factor and playing with resources as a SME can take a toll on a small company. SMEs struggle with a lot of difficult situations such as being overwhelmed by the pressure of late payments.
It is assumed in most cases that an SME is a start-up where the operations are run by someone new to the business and the market.
Now imagine the ease if these SMEs had someone to guide them through their financial payment-related insights.
Securing €5M FUND:
Factris is currently backed by successful investors such as Optima Investments, Speedinvest and other high net-worth investors who have also been a part of Series-A equity funding. On top of it, AB Ventures have joined the list by investing €5 Million in Factris.
The Dutch Fintech start-up has been in the spotlight for quite some time now, not very long ago, NN Investment Partners (NN IP)- asset manager funded Factris with €50 Million over a new financing agreement.
The company aims to utilise this amount to expand its business reach and operations. They intend to enhance their financial impact on the market. For this, Factris is in talks with factoring companies for partnership and becoming Factris Brokers or Partners.
Factris CEO Brian Reaves says in a statement that Factris is happy to work with AB Ventures and is eager to provide financial services in partnership with them in preferred markets.
WHAT IS FINANCE AUTOMATION FOR BUSINESS (FAB)
FAB or Finance Automation for Business is a business platform developed by Factris which makes business a lot easier and efficient.
This platform automates tasks for employees to take personalised care of their customers without skipping a detail. It also lets clients upload their invoices, receive capital for invoices on the same day, request credit limits and monitor their payments. All of it under one platform- FAB, isn’t it?
Faisal Hakki, Managing Director- AB Ventures comments that AB Ventures is excited to be a part of this business journey with Factris and is looking forward to closing cooperation with Factris in developing receivables-based financing solutions, first in Europe and then intending to expand their operations further in other selected markets.
Picture Credits: Global fintech Series