Factris launches services in Latvia and names new country managersGo to the news page
- The company Factris is positioning itself for success with its unique offering in the SME market
- Factris has already experienced rapid growth with its innovative financial solutions personalised for its customers.
Factris announced the launch of financing services uniquely suited for small and medium-sized enterprises in Latvia through its wholly-owned subsidiary, based in Riga. The Latvian market is ripe for alternative financing, and Factris has positioned itself to seize this opportunity. Momentum is growing with Factris having onboarded a number of clients after they took note of the advantages that the fintech company offers. Traditional banks cause frustration and problems for small and medium-sized businesses when they ignore or make it difficult for them to secure a working-capital facility. These challenges imposed by banks have proven to give Factris an edge by allowing them to eliminate these problems by means of their innovative financial solutions and personalised services.
Kaspar Barons was named the Managing Director of the operations in Latvia. Mr. Barons has more than 10 years experience in banking and lending in the Baltics, starting his career with GE Money and then moving on to well-known Latvian finance organisations Citadele Bank, Greencredit and Monify.
Factris has also promoted Chantal Molenaar to Managing Director of the Netherlands and Paulius Jauga to Managing Director of Lithuania. Both Ms. Molenaar and Mr. Jauga have proven invaluable to the success of Factris, demonstrating both leadership skills and execution capabilities.
“I am really proud of the Factris team and what we have been able to accomplish together in a short period of time. I believe Chantal, Kaspars and Paulius represent our core values, are true professionals, and we are lucky to have them on team Factris!” said Brian Reaves, CEO of Factris.
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.
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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
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