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New financing solutions changed how small and medium-sized enterprises (SMEs) did business throughout Europe last year, as shown by the year-end results from the fintech company Factris. The results from the Netherlands-based company revealed a sharp increase in alternative-financing activity in 2019, as well as a change in what those customers could achieve by financing their invoices via \u201cfactoring\u201d.<\/p>\n
Factris reported more than 3,000 invoices factored per month, surpassing a total volume of \u20ac250MM by the end of 2019. With so many SMEs using different forms of financing\u2014particularly factoring\u2014it\u2019s clear that a shift has occurred in how SMEs are choosing to finance their businesses.<\/p>\n
\u201cPart of this shift in SME financing is due to the speed that factoring takes place compared with financing from banks\u201d, explains Brian Reaves, Factris\u2019 CEO. \u201cWhen an SME needs financing because their customer hasn\u2019t paid an invoice yet, Factris purchases that unpaid invoice on the same day from the SME, providing them cashflow to use however they need. Thus, payments can be made earlier, allowing the SME to negotiate a discount on purchases.\u201d<\/p>\n
The results also showed that SMEs used factoring in a variety of ways. For instance, some SMEs used factoring for growth within their company\u2014for example, factoring seasonally to pay their fruit pickers. And factoring wasn\u2019t just limited to one type of business, as revealed by the top three sectors that factored with Factris were: transportation, wholesale trade and manufacturing.<\/p>\n
Invoices that were factored also varied immensely, from a few hundred euros up to \u20ac650.000. This demonstrates that both large and small SMEs chose factoring for their financing needs in 2019.<\/p>\n
Continues Reaves, \u201cThe quick, easy capital from factoring invoices has presented new opportunities for SMEs across the EU, empowering them to do more than what was previously possible.\u201d<\/p>\n
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[\/et_pb_text][et_pb_button button_url=”\/en\/eligibility\/” button_text=”See if I qualify” button_alignment=”center” module_class=”btn-tertiary-2″ _builder_version=”4.14.8″ _module_preset=”default” custom_button=”on” button_text_color=”#ffffff” button_bg_color=”rgba(0,0,0,0)” button_font=”||||on||||” button_icon=”$||divi||400″ button_icon_color=”#ffffff” button_on_hover=”off” custom_margin=”||20px|||” custom_padding=”0px|0px|0px|0px|true|true” global_colors_info=”{}”][\/et_pb_button][et_pb_button button_url=”https:\/\/onboarding.factris.com\/en\/sign-up” button_text=”Finance my invoices” button_alignment=”center” _builder_version=”4.13.0″ _module_preset=”default” button_icon=”$||divi||400″ button_icon_color=”#353540″ button_on_hover=”off” custom_margin=”||18px|||” custom_padding=”10px|40px|10px|25px|true|false” global_colors_info=”{}” custom_padding__hover_enabled=”on|hover” custom_padding__hover=”|50px|||true|false”][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"
– 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 personalized for its customers. New financing solutions changed how small and medium-sized enterprises (SMEs) did business throughout Europe last year, as shown by the year-end results […]<\/p>\n","protected":false},"author":1,"featured_media":20636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"\n
Advisory board<\/strong><\/p>\n\n\n\n Brian Reaves <\/strong>Chief Executive Officer<\/p>\n\n\n\n Serial entrepreneur and investor in the mobile and payments space. Brian was involved in building 21 prior businesses including 15 mobile networks and 4 payment companies.<\/p>\n\n\n\n Adam Posma <\/strong>Founder and Chief Product Officer of ClubCollect<\/p>\n\n\n\n Adam founded ClubCollect in 2013 - a provider of membership fee collection services for sports clubs. He started his career in wealth management at BNP Paribas.<\/p>\n\n\n\n Dr. Tom F. Lesche <\/strong>Principal at Speedinvest<\/p>\n\n\n\n Tom started his career in investment banking. Most recently, he was a Vice President at Morgan Stanley in London, advising financial technology companies on a variety of capital markets and M&A transactions. At Speedinvest, he solely focuses on investments in European fintech companies.<\/p>\n\n\n\n Donatas Juodelis <\/strong>Founder of Debifo<\/p>\n\n\n\n Donatas started his career as a lawyer but quickly moved to entrepreneurship and investments. Co-founded IT company INNTEC, co-founded factoring company Debifo and a couple of other successful startups. In most of the companies, Donatas was responsible for business and corporate development.<\/p>\n\n\n\n Faisal Hakki <\/strong>Managing director at AB Ventures<\/p>\n\n\n\n Faisal is Managing Director at AB Ventures, the FinTech focused, early-stage Venture Capital arm of Arab Bank. Prior to joining AB Ventures, Faisal was CEO at Oasis500 \u2013 the leading seed-stage investment fund and accelerator in Jordan. Faisal has also held senior positions at Accelerator Technology Holdings, Arab Advisors Group and Fastlin.<\/p>\n\n\n\n Brian Reaves <\/strong>Chief Executive Officer<\/p>\n\n\n\n Serial entrepreneur and investor in the mobile and payments space. Brian was involved in building 21 prior businesses including 15 mobile networks and 4 payment companies.<\/p>\n\n\n\n Adam Posma <\/strong>Founder and Chief Product Officer of ClubCollect<\/p>\n\n\n\n Adam founded ClubCollect in 2013 - a provider of membership fee collection services for sports clubs. He started his career in wealth management at BNP Paribas.<\/p>\n\n\n\n Dr. Tom F. Lesche <\/strong>Principal at Speedinvest<\/p>\n\n\n\n Tom started his career in investment banking. Most recently, he was a Vice President at Morgan Stanley in London, advising financial technology companies on a variety of capital markets and M&A transactions. At Speedinvest, he solely focuses on investments in European fintech companies.<\/p>\n\n\n\n Donatas Juodelis <\/strong>Founder of Debifo<\/p>\n\n\n\n Donatas started his career as a lawyer but quickly moved to entrepreneurship and investments. Co-founded IT company INNTEC, co-founded factoring company Debifo and a couple of other successful startups. In most of the companies, Donatas was responsible for business and corporate development.<\/p>\n\n\n\n Faisal Hakki <\/strong>Managing director at AB Ventures<\/p>\n\n\n\n Faisal is Managing Director at AB Ventures, the FinTech focused, early-stage Venture Capital arm of Arab Bank. Prior to joining AB Ventures, Faisal was CEO at Oasis500 \u2013 the leading seed-stage investment fund and accelerator in Jordan. Faisal has also held senior positions at Accelerator Technology Holdings, Arab Advisors Group and Fastlin.<\/p>\n\n\n\n <\/p>\n","_et_gb_content_width":"2880","footnotes":""},"categories":[4],"tags":[],"yoast_head":"\n