Factris wins court case brought by RabobankGo to the news page
The Amsterdam fintech company Factris does not have to change its name. Rabobank subsidiary Facturis loses summary proceedings against the company. This decision was announced on 3 April by the Court of Amsterdam. In addition to this, the court ordered Facturis to pay the costs of the proceedings and including Factris’ legal cost totalling € 16,380.
According to Facturis, the two companies would be confusingly similar in terms of name and service. Facturis was convinced that Factris would benefit from its brand recognition, but the judge ruled in favour of Factris on all points. According to the court, Factris has not infringed on the trademark nor any IP listed in the complaints brought by Rabobank, successfully defending the Factris European trademark issued last year.
Brian Reaves, CEO of Factris, comments:
We are elated that after six months of distractions and legal assaults on Factris’ trademark from Rabobank, the truth has triumphed. As Factris expands across Europe and continues to engage with like-minded fintechs, we recognise this one battle does not win a war that is being quietly waged on many fronts by the banks against fintech entrepreneurs.
As the gatekeepers licensed by the government regulators, banks have too much power to ultimately deny us the basic access to bank accounts, restrict capital required for us to deliver superior services to our clients and in this case leverage their substantial legal resources against smaller rivals.
Finance Monthly has chosen Factris in the Fintech Innovation category
Year upon year, the Finance Monthly FinTech Awards recognise the true innovators who help drive the FinTech industry forward and help make the sector what it is today. Factris is among them.
Dexteritas funds Factris with EUR 5 million Facility
Factris has recently closed a funding round with the private debt fund Dexteritas for 5MM EUR. This funding will enable Factris to support more factoring companies, acquire loan portfolios, and free up trapped investment capital.
Global 100 Awards CEO of the year 2020 - Brian Reaves
Each award program comprises a unique, proprietary selection process and ranking method. Only the most worthy winners are chosen, based on their domestic and international work, according to a comprehensive set of criteria. Factris is proud to be recognised.