Dutch firm Factris has scored €50m in global funding from global investment business Aegon Asset Mangement.
Founded in 2017, Factris claims its mission is to empower SMEs through financial technology with personalised guidance.
The company recently reached the milestone of financing €1bn in invoices in the first quarter of 2023.
With this additional line of funding, Factris is on course to expand their SME financing services into Estonia in Q2 of 2023, as well as provide more business funding opportunities in existing EU markets which include the Netherlands, Belgium, Poland, Lithuania and Latvia.
This new funding line, the firm claims, complements other partnerships whose funding helped Factris finish 2022 with strong organic growth that included a 58% increase of cumulative financing volume year over year for their pan-European market and an 83% financing-volume increase in the Netherlands alone.
Factris CEO Brian Reaves said, “Without our exceptional risk management results supported by our team and technology, we would not be eligible to work with such outstanding institutional investors. Thanks to strong partners like Aegon AM, we have the capacity with our tech-powered financing solutions to support struggling business owners right when they need it.”
Aegon AM’s head of insured credit and trade finance George Nijborg added, “We are excited to continue being at the forefront in financing European SMEs and in backing Factris’ impressive growth. The strong partnership established with Factris shows that creating attractive financing solutions for institutional investors helps plug the gap needed to support SMEs, which are the backbone of European economies.”
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