Instant Factoring concludes 2018 with 2.7 million Euros financed bills and aims to become a regional leader in 2019

Instant Factoring concludes 2018 with 2.7 million Euros financed bills and aims to become a regional leader in 2019

Instant Factoring, the Romanian fintech active on the local market from April 2018, closed the year with a volume of over 1,500 grants, totaling 2.7 million euros.

The average value of an invoice was $ 10,000 (approximately € 2,100), double the estimated value at the time of launch. The company predicts to hit the operational breakeven in the first half of 2019.

In just nine months of activity, Instant Factoring has succeeded in popularizing its online microfinance product among Romanian entrepreneurs looking for viable and efficient alternatives to traditional bank financing or traditional factoring institutions.

The figures show an increased appetite for small businesses and micro-enterprises to support their business when they need cash immediately, without having to hinder daily work through bureaucratic documentation and processes.

The most active companies in the online micro-factoring platform www.instantfactoring.com came from: tax consultancy and business services (accounting, auditing, advertising marketing services), business travel services, public catering manufacturers and equipment distributors for hospitals and installations.

2019 is a year in which the Romanian fintech aims to move from the startup level to the fast growing business: "We aim for 2019 to increase our volume of financing by 300% and to exceed 1,000 unique customers. We already benefit from the support of an external investment fund and we plan to attract further investments. A strategic development direction in 2019 includes the diversification of financial products offered, as well as entry into new markets in Central and Eastern Europe, "said Cristian Ionescu, Chairman of the Board of Directors and co-founder of Instant Factoring.

"The first year of activity has shown us that Romania is a younger market for entrepreneurship, but also very dynamic. The challenge comes from the fact that Romanian entrepreneurs have not had access to affordable financing solutions so far and have some initial restraint in accessing them, and in this case our role is an educational one. We are trying to popularize a sophisticated financial product, for everyone's sake, so that it is easy to implement in the natural course of business development. We are delighted to observe young entrepreneurs who are very open to new solutions that can fuel their cash flow. "

Instant Factoring proposes regional expansion by opening new branches in Central and Eastern Europe, targeting at least two countries in 2019: "We will begin our regional expansion with Croatia, opening a new office by the first half of the year and we will consolidate with the second in another country in the region in the second semester. We aim to become the regional leader in financing micro-companies and small companies, " Cristian Ionescu said.

Instant Factoring facilitates the development of small businesses by providing them with flexible and innovative financing solutions by converting the invoices within the payment term into liquidity.

The financing decision is taken within 2 hours, thanks to the advanced technology available to the platform, and in maximum 24 hours the client receives the money in the account. The entire process is automated and fully online, everything is done quickly and transparently and without requiring additional documents for amounts up to 50,000 RON.

Overall, Instant Factoring funds online bills with individual amounts up to 100,000 EUR.