Amsterdam-headquartered Factris helps SMEs with invoice financing; secures €50M in financing agreement
Summary
Amsterdam headquartered fintech Factris helps such SMEs by turning their invoices into cash in just 24 hours. Benefiting from full trade credit insurance, this newly-secured debt facility option is said to enable NN IP to meet its responsible investing (RI) ambitions. It will be realised by supporting the European economy while delivering a lower risk investment opportunity for NN IP clients. Furthermore, by combining NN IP’s RI criteria with Factris’s policies, the transaction ensures funding will be geared more towards better sustainable small and medium-sized businesses and sectors. Along with helping SMEs better manage their working capital requirements, the option apparently gained notable importance during Covid-19, as the cash position of many independent businesses were negatively impacted by the pandemic Factris also offers a Finance Automation for Business platform (FAB), which automates tasks for employees to focus on personalised customer care.