The attracted funds, together with the company's equity, will support the expansion of activity on the Romanian market by developing microfinance operations for a volume of invoices totaling up to 20 million Euro in 2019.
Foreign financing accessed by Instant Factoring will support the expansion of the company in other markets in Central and Eastern Europe.
"The attraction of this funding will allow us to further support the Romanian small companies and to contribute to the development of a healthy and stable business environment that is so necessary for our economy and our country. We have not accidentally obtained these funds, one of the reasons for the partnership is precisely the strong social and economic impact, being also an acknowledgment of our positive results in the Romanian society and in the future in the emerging Europe. It is important to have new trusted external partners that will guide us in the process of regional expansion that we plan to launch in the next year, "said Elisa Rusu, CEO and co-founder of Instant Factoring.
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 whole process is automated and fully online, all being carried out quickly and transparently and without the need for additional documents.
Instant Factoring's standard bills have values up to 10,000 RON, but funding is also granted for larger amounts through personalized deals. This service can be accessed by any company regardless of size, activity, and geographic location. This removes the barriers imposed on small companies that need acute liquidity and who could access it with great difficulty or not at all by means of classical financing.
The Instant Factoring microfinance platform, aimed at small and micro-enterprises, was launched in April this year, and in the 7 months of its activity, it has attracted 250 customers with a volume of 2 million-euro-funded bills. The company's clients come from various sectors of activity such as transportation, consultancy and advertising, FMCG, construction and IT.
"We intend next year, besides increasing the volume of processed invoices, to come up with a diversification of microfinance products for SMEs. We closely follow the needs of this segment of companies and are permanently connected to technological developments so that we offer our customers innovative and efficient products for their business, " said Elisa Rusu.