14.000 freelancers can now be paid earlier through factoringGo to the news page
Factris enters a partnership with Verloning.nl
A partnership has recently been announced between the fintech company Factris and the Dutch freelancer platform Verloning.nl. This new partnership will allow freelancers working via the Verloning platform to use Factris’ factoring services, enabling them to get paid within 24 hours for invoices sent through Verloning.nl. This will prove to be of tremendous value to thousands of independent professionals, as Verloning is the Netherlands’ largest business administration service provider for freelancers with more than 14.000 freelancers using the platform.
Verloning.nl is a one-stop-shop for freelancers. When they join Verloning, they don’t need registration at the Chamber of Commerce nor a VAT-number to work for clients. Verloning handles all back-office and administration matters, including things like pension, insurances and invoicing. This means freelancers can focus on what they are good at without any unpleasant surprises waiting for them later on. Also, these freelancers work ‘DBA-bill proof’, allowing them to get more income.
Because of its unique proposition, Verloning has grown fast. This partnership with Factris will only increase this growth by further expanding the services that they offer. Verloning founder Edward Belgraver said: “For some time we had wanted to add factoring to our services. Now with Factris, we have a trusted and experienced partner to serve our fast-growing client base. Our technical platforms share data about invoices, credit limits and checks. If everything is okay, the freelancer gets the invoice paid immediately. This means they don’t have to wait endlessly for their money. Sadly, the term of payment of Dutch companies is 42 days on average. This partnership solves that problem for our clients.”
It’s no secret that banks are not fond of freelancers. For these entrepreneurs, it can be nearly impossible to get working capital from banks. Brian Reaves, CEO at Factris, said: “Our mission is to help entrepreneurs throughout Europe with affordable financing. We remove the barriers that banks throw up. Thanks to our partnership with Verloning.nl, we can now help thousands of freelancers with our factoring services. A great step forward for all parties involved.”
Verloning.nl was founded in 2012 to support the growing pool of freelancers with administration, insurance and invoice services. Independent professionals who join the Verloning platform don’t need a Chamber of Commerce registration or VAT-number and can accept commissions for their own benefit from clients.
Best Alternative SME Financing Solutions Provider 2020 – Europe
While it is certainly a challenging time for businesses of all shapes and sizes, there are still causes for celebration to be found in every industry and sector. Indeed, even now, we endeavor to recognize those that are and have been doing incredible things.
Factris receives EU funding for AI-based SME risk-management system
Factris received a grant of 1,4MM from the EU to fund the development of an automated risk-management system that uses artificial intelligence (AI) technology. This new system will solve an enormous problem that affects small businesses across Europe.
“Factoring” changed how SMEs did business in 2019
New financing solutions changed how SMEs did business throughout Europe last year, as shown by the year-end results from Factris. The results from the Netherlands-based company revealed a sharp increase in alternative-financing activity in 2019.