“The capital raised in this round will help consolidate our position on the local market by expanding our client portfolio among micro-enterprises and small companies in Romania and it will be invested in the development of our online factoring platform, as well as strategic branding and digital marketing activities,” said Cristian Ionescu, CEO and president of Instant Factoring.
This is the company’s first private capital financing round apart from the initial subscribed capital of EUR0.5 million, reaching a total capital investment of EUR1 million.
In fall 2018, Instant Factoring attracted EUR1.5 million working capital from an American investment fund.
“Small businesses in Romania are faced with acute shortage of liquidity in current activities,” added Ionescu.
Instant Factoring supports the development of small companies, with turnovers of up to EUR2 million, by providing online financing solutions – factoring.