Factris acquires Lithuanian factoring company DebifoGo to the news page
Factris announced the successful conclusion of the 100% acquisition of “Debifo” for an undisclosed purchase price. Debifo is a leading working capital provider in Lithuania with a 35% market share in the alternative lending space and growing rapidly.
The acquisition of Debifo represents another step in executing the Factris pan-European strategy. Speedinvest and Optima Investments support Factris with additional funding for acquisitions of European working capital providers.
“We are excited to be working with Debifo. They are a really driven team that has achieved strong results in Lithuania. We are looking forward to fostering Debifo’s talent as Factris expands across Europe to become the leading working capital provider to SMEs” said Brian Reaves, Factris, CEO.
Justas Šaltinis, CEO and founder of DEBIFO, will join Factris management board as Chief Operational Officer (COO).
“Our team is delighted to join Factris. Together we will be able to improve our financing capabilities, expand the range of services and offer more competitive prices for our customers.” – commented Justas Šaltinis, Debifo CEO
In December 2018, Factris concluded a EUR 100 million credit facility agreement through a Swiss investment advisor Ruvercap. The credit facility will be used to provide working capital to small and medium-sized businesses throughout Europe.
Factris is re-inventing the provision of working capital to small and medium sized businesses using new technologies, a personal approach and scalable credit solutions. We have focused on simplifiying the financing process while truly understanding customers funding requirements. Factris offers stability and scalability through technology and shared processes and resources, while partners offer the personal and local approach that customers need.
Debifo started operations in mid-2015 providing invoice financing solutions for small and medium-sized businesses in Lithuania. Debifo have taken a leading position in Lithuania providing more than 85 million euros in working capital to more than 350 companies. Debifo has won the award of the financial service of the year by the Lithuanian Business Confederation.
Find out more: www.debifo.com
Factris closes series A round to increase reach
Factris has concluded a EUR 5M Series-A equity funding round led by AB Ventures, the corporate venture capital arm of the Arab Bank. Current investors participating in the round included Speedinvest and Optima Investments, along with high networth investors.
Factris and NN Investment Partners agree on European financing agreement
Factris has closed a new EUR 50m secured financing agreement with asset manager NN Investment Partners (NN IP). The facility will be used to provide financing to European SMEs via the purchase of their trade-related invoices.
What is factoring?
Alternative forms of financing, like factoring, have never been more important for your business. Learn how factoring works for your SME. Factoring (or invoice financing as it’s also known) is well known to many businesses.