Factris’ CEO Brian Reaves wins CEO Awards 2019
We are proud of our CEO, Brian Reaves, who has been awarded this year!
It is a recognition of the whole Factris team for achieving the desired goals and being driven forward by such a CEO. Read the full item of the Finance Monthly CEO Awards on page 22.
About Brian Reaves, CEO of Factris
Brian Reaves is both a global student and a natural entrepreneur. His education includes a bachelor’s degree in business and finance from Lander University and postgraduate studies at Moscow State University. Before starting his entrepreneurial path, he gained experience in large multinational corporations, growing numerous companies, and hiring over 500 people. As an entrepreneur, he raised more than $100 MM in debt and equity for projects and co-invested in a variety of companies. After much frustration and little help from traditional banks, Brian set out in 2016 to create a better option for funding small businesses by laying the groundwork for what would become the fintech company Factris.
Firm Profile
The fintech company Factris, with offices in the Netherlands, Lithuania, and Latvia, has been disrupting traditional banking with its innovative solutions since 2017. The company focuses on assisting SMEs by providing low-cost working capital and other tailored financial services.
The primary weapon in Factris’ arsenal is an innovative method called “factoring”. Instead of the traditional, complicated process of acquiring a small loan from a bank, factoring allows an SME to receive almost-instant capital by Factris purchasing their unpaid invoice and managing its collection for a fee.
What Factris has been remarkably able to achieve is to place the power and resources of a multi-country financial company into the hands of local SMEs across Europe. This is achieved by means of a focus on customer service on a local scale, while at the same time harnessing the power of automation technology through Factris’ “Financing Automation for Business” platform, or FAB Platform, allowing the Amsterdam-based company to support SMEs throughout Europe. All of these financial solutions and products are designed to be customisable to match the unique needs of each small business.
Milestones that have helped grow Factris include Swiss funding in 2017 to power Factris with a €25MM credit line, launching their first factoring platform in 2018, acquiring Crown Finance Group the same year, then acquiring the Lithuanian fintech company Debifo in 2019, and establishing their Latvian base.
Their hard work continues to pay off, with revenue up 861% by mid-2019 in just one year, and the number of clients up 50% compared to the same period in 2018.
This article has been revised by
Brian Reaves
Factris CEO
Brian Reaves is Factris Chief Executive Officer, a serial entrepreneur and investor in the mobile and payments space. Brian was involved in building 21 prior businesses, including 15 mobile networks and 4 payment companies.
