Instant Factoring is a fintech platform that enables businesses to convert their outstanding invoices into cash within 24 hours by uploading invoice copies for approval. This service addresses cash flow issues by eliminating the wait for payment terms that can extend up to 120 days, providing immediate liquidity to companies of all sizes.
Funding
$1.1M 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
Businesses, especially micro and small enterprises, often face cash flow challenges due to extended payment terms (30-120 days) on their invoices, hindering their ability to cover immediate operational expenses and pursue growth opportunities. This delay in receiving payments can restrict their financial flexibility and overall business development.
Solution
Instant Factoring offers a fintech platform designed to alleviate cash flow bottlenecks by enabling businesses to convert their outstanding invoices into immediate working capital. Through a fully online process, businesses upload copies of their invoices and, upon approval, receive funds in as little as 24 hours. This service allows companies to bypass lengthy payment terms, providing them with immediate access to liquidity. Instant Factoring evaluates invoices within two hours and can finance invoices up to 1,000,000 lei, with transparent commission fees calculated based on the invoice's due date and the client's creditworthiness. The platform supports invoices of any type (doc, pdf, scan, or image) and protects the relationship with the invoice payer by only contacting them to confirm the invoice and inform them of the new payment details.
Target Audience
Instant Factoring primarily targets micro and small enterprises across various sectors that require immediate access to funds tied up in outstanding invoices, including transporters, builders, manufacturers, and distributors.
Features
- Online platform for uploading and managing invoices
- Rapid invoice approval process within 2 hours
- Funds disbursed within 24 hours of approval
- Financing available for invoices up to 1,000,000 lei
- Transparent commission fees with no hidden costs, calculated as a percentage of the financed value
- Flexible financing options, including recourse and non-recourse factoring
- Supports invoices issued to companies within the European Union, provided they meet eligibility criteria
- Secure platform ensuring confidentiality of user data and compliance with data protection regulations
- Integration with a finance calculator to estimate the financing commission