“The expertise of Impetum group, especially in the distressed area (through CITR and ROCA Investments) will help us not only navigate the potential obstacles of a fintech seeking to scale up rapidly, but also to develop the iFactor product into the first financing option for SMEs in distress,” said Cosmin Curticapean, CEO and co-founder of iFactor.
“It’s the first Romanian company on the alternative financing market that can operate in the distress area, which makes us confident the product will be rapidly adopted and scaled on European markets,” said Matei Dumitrescu, Senior Investment Partner, ROCA X.
The current investment round, led by ROCA X, will support the development of iFactor and its services offering private investors in Europe the possibility to trade a new class of assets.
In the next two years, the company plans to upscale from Romanian SMEs and targets expansion in the UK, Germany, Austria and Switzerland.
iFactor is an innovative online solution that brings together small-medium sized companies interested in selling their individual outstanding invoices for immediate cash, and investors and banks looking for diversifying their asset portfolio with a low-risk investment.