The startup offers a flexible credit line platform that enables small and medium-sized European businesses to convert unpaid invoices into cash within one business day. By modernizing the traditional factoring model, the platform addresses the cash flow challenges faced by these businesses, allowing them to meet immediate financing needs and support growth.
Funding
$138.6M 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
Small and medium-sized businesses in Europe often face cash flow challenges due to delayed invoice payments, hindering their ability to cover immediate expenses and pursue growth opportunities. Traditional factoring methods can be inflexible and slow, failing to provide timely access to working capital.
Solution
Factris offers a flexible credit line platform that enables SMEs to convert unpaid B2B invoices into cash within one business day. By modernizing the factoring process, the platform provides immediate financing, allowing businesses to unlock working capital tied up in receivables. Factris streamlines onboarding, automates processes, and incorporates fraud prevention measures to adapt to various European languages, currencies, and regulations. Businesses can outsource debtor management and mitigate risk through credit insurance options.
Target Audience
The primary target audience includes small and medium-sized enterprises (SMEs) and self-employed individuals across various industries in Europe who need to improve their cash flow by financing their unpaid invoices.
Features
- Online platform for uploading and managing invoices
- Rapid approval process with funding available within 24 hours
- Automated invoice processing and risk assessment
- Flexible financing options tailored to individual business needs
- Debt management services to handle invoice collection
- Credit insurance to protect against customer insolvency
- Multi-language and multi-currency support for European markets