Amsterdam-based Factris has secured a €5m investment from private debt fund Dexteritas.
The capital will help the FinTech to support more factoring companies, acquire loan portfolios and free up trapped investment capital, it said.
Dexteritas decided to invest into Factris due to its high liquidity and secure financing.
The Factris platform has automated the risk assessment process, enabling it to fund more SMEs while also preventing financial loss.
Its platform enables small and medium-sized businesses to access working capital by selling their unpaid invoices. A business simply uploads their invoices and will receive outstanding invoices and receive capital within 24 hours.
With the support of Dexteritas, Factris hopes to grow in volume and finance more businesses.
Factris CEO Brian Reaves said, “Factris has always been focused on helping SMEs. As the pandemic drags on, so does its detrimental effects on small businesses. But thanks to the funding from Dexteritas, we can help finance even more SMEs in these challenging times.”
The company previously raised a €50m senior debt facility from NNIP.
The company secured a €5m Series A round in September 2020, with capital coming from AB Ventures, SpeedInvest and Optima Investments.
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