Factoro is a fintech platform that provides supply chain finance solutions through digital factoring, enabling businesses to offer early payment options to their suppliers. This service improves supplier liquidity by allowing them to access immediate cash for approved invoices, thereby enhancing cash flow management for both buyers and suppliers.
Funding
$120K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses, especially small and medium-sized enterprises (SMEs), face challenges in managing their working capital due to long payment cycles. Suppliers often experience liquidity issues while waiting for invoice payments, hindering their ability to invest in growth and operations. Traditional factoring methods can be cumbersome and lack the flexibility needed for dynamic supply chains.
Solution
Factoro is a fintech platform that provides digital factoring solutions, enabling businesses to offer early payment options to their suppliers and optimize their working capital. The platform allows suppliers to access immediate cash for approved invoices, improving their liquidity and financial stability. Buyers can extend their payment terms while ensuring their suppliers are paid promptly, strengthening supply chain relationships. Factoro streamlines the factoring process through automation and provides flexible financing options tailored to the needs of both buyers and suppliers.
Target Audience
Factoro targets businesses that purchase on credit, are experiencing growth, need to extend payment terms, and have high market demand, as well as their suppliers seeking improved liquidity.
Features
- Digital platform for managing and approving supplier invoices
- Early payment options for suppliers with flexible terms and competitive rates
- Integration with accounting systems and ERPs for automated invoice processing
- Credit lines up to $438M for supplier factoring
- Discount rates starting from 1% per month for early invoice payments
- Supplier onboarding and management portal
- Multi-factor authentication and data encryption for secure transactions
- Automated invoice authentication with the SAT (Mexico's tax authority)