“We are ready to offer Spanish entrepreneurs the same prompt, customer-oriented, transparent, 100% digital services. I strongly believe that small businesses are extremely important in any economy, but I also know that many times the doors are closed to start-up businesses. I put my shoulder to work to change this in Romania and Serbia and I succeeded. Now we are going to Spain with the objective of becoming a reliable partner for the businesses there”, said Cristian Ionescu, CEO of Instant Factoring.
An important actor that helped launch fintech in Spain is Micro Europe, a social investment company that became a shareholder in Instant Factoring in March 2023. Micro Europe actively contributes to the development of the microfinance sector throughout Europe.
Instant Factoring aims to attract at least 3 local investment funds into the shareholding of Instant Factoring Spain and is already in advanced discussions to do so, with the statement that it will hold majority control of the company.
“The start-up capital we allocate in Spain is 1.5 million euros. The market in Spain is 33 times bigger than the one in Romania, so we have an interesting road ahead of us, to say the least. We aim to grow progressively in such a way that we become a consistent presence and can strengthen our position in Spain as well as we did in Romania and Serbia”, added Cristian Ionescu.
Instant Factoring was launchd in Romania five years ago and recorded total transfers to clients’ accounts worth over RON800 million. In 2023, the company funded more than 800 clients, with over RON250 million.