Factris Disrupts Traditional European Financing with New PlatformGo to the news page
The platform forges new ways to make financing easier and more available for small and medium businesses
Fintech company Factris has launched a new version of their Finance Automation for Business platform or the “FAB” platform for short. This new platform is a crucial piece of the puzzle for Factris that will be used to support their aim of reinventing and improving how business financing takes place. The FAB platform will allow the Amsterdam-based company to support their local sales teams and partners in cities across Europe, which will significantly increase the quality and speed of their financing services to small and medium enterprises (SMEs) throughout the continent.
It’s no secret that the current financial system in Europe can be crippling to SMEs; not only are banks closing branches and making it difficult to speak to a person, SMEs also struggle to gain access to much-needed capital, as this recent study by the World Bank identified. The study found that difficulty obtaining financing was one of the top-three constraints SMEs face when doing business. Factris has taken note of the limitations imposed on SMEs by the current financial system and has responded by developing powerful financing tools and services such as Factoring and Invoice Financing, along with a focus on service at a local level. “Financing is an inherently local business, and Factris has solved the problem by “scaling local” We’re providing the tools to enable local people to work together efficiently,” said Brian Reaves, CEO of Factris.
The new FAB platform can now put these technological and financial solutions offered by Factris into the hands of local businesses, delivering personalised services sorely needed in this challenging financial climate.
“This new platform positions us to make a real impact in helping SMEs with their financing needs. To us, business is personal, and clients are never just a number.” - Brian Reaves.
How to prepare your SME for a financial slowdown after Christmas
While many dreams of what awaits them beneath glimmering wrapping paper, others anxiously face an avalanche of business activity that they can hardly keep up with - only to be left feeling financially out in the cold when it’s all done.
14.000 freelancers can now be paid earlier through factoring
A partnership has recently been announced between Factris and the Dutch freelancer platform Verloning.nl. This will allow freelancers working via Verloning to use Factris’ services, enabling them to get paid within 24 hours for invoices sent through Verloning.
People of Factris - behind the scenes!
Justas can safely be called a pioneer in non-banking invoice financing in Lithuania. Seeing the lack of this service in 2015, he had such faith in his business idea that in spite of the dissuasion of sceptics, he “rolled up his sleeves” and dived right in.