Romanian fintech Instant Factoring attracts new external financing of 6.3 million Euro
Instant Factoring, the Romanian fintech that provides microfinance to small companies, concludes a new round of external financing of 6.3 million Euro, raising the total volume of available capital to 12 million Euro, both for Romania and the entity from Serbia, recently opened. The purpose of the financing is to ensure the necessary capital for the company’s development in both markets for next year.
“The new round of financing will help us grow in both markets and, at the same time, invest in technology and software development to accelerate the digital financing processes. Furthermore, it will allow us to develop new financial products and expand our operational capabilities”, said Cristian Ionescu, the CEO of Instant Factoring.
Since its launch in 2018, Instant Factoring has benefited from several financing rounds. The current one, of 6.3 million Euro, represents capital investment and loans from existing shareholders, 45 percent of the total amount, and an additional loan from US financial creditors of 55 percent of the total, the latter intended to increase the financing capital of invoices. The funding raises the total volume of available capital of Instant Factoring (both equity and debt) to 12 million Euro for the entities in Romania and Serbia.