Cristian Ionescu appointed CEO and President of Instant Factoring, the first Romanian online micro-factoring company

Instant Factoring, the first Romanian online micro-factoring company, is making strategic changes to its organizational structure to strengthen its leadership team and support regional expansion across Central and Eastern Europe.

The company plans to open two new branches in Central and Eastern Europe this year to consolidate its regional presence and expand its online micro-financing operations for small businesses. To this end, the company is making a strategic move by appointing Cristian Ionescu, Co-founder and Chairman of the Board, as CEO of the future Instant Factoring Group. In each country where branches are opened, including Romania, a Country Manager will be appointed to lead local operations and execute the business plan in alignment with the objectives set by shareholders and investors.

Cristian Ionescu has over 15 years of experience in the financial services and business consulting sector, with a focus on risk management services, including factoring, trade credit insurance, corporate finance, company risk assessment, and commercial debt collection. He led Coface's operations for 10 years as CEO for Romania, and later for Central and Eastern Europe. For the past 6 years, he has served as Country Manager for the local branch of Expense Reduction Analysts, a global leader in operational expense optimization consulting.

"This change is a step forward in our regional expansion plan, which will begin in the coming months with the opening of a new branch in Croatia and continue in the second half of the year with a second country. At the same time, we aim to increase our financing volumes in Romania to over 10 million euros in 2019, a 300% increase compared to 2018, so we need a solid and capable team to meet these ambitious goals. We want to strengthen our strategic presence in Romania and Central and Eastern Europe and leverage the technological competitive advantage that the company currently possesses and is further consolidating. We will bring on board specialists with international experience in financial operations and risk assessment to support our regional strategy, as well as professionals in lending to small and micro-enterprises in the countries where we will expand," said Cristian Ionescu, CEO and President of Instant Factoring.

"The process of changing the organizational structure in Romania is already on the right track, and we are preparing to announce the name of the Country Manager for Romania soon. We have been looking for someone with extensive experience in factoring, gained in top financial institutions, in SME financing, and, most importantly, with a strong entrepreneurial spirit," added Cristian Ionescu.

Instant Factoring facilitates the growth of small businesses by providing flexible and innovative financing solutions, turning outstanding invoices into cash. Financing decisions are made within an average of 2 hours, thanks to the platform's advanced technology, and the client receives the funds in their account within 24 hours. The entire risk assessment and operations management process is automated and fully online, ensuring speed and transparency without requiring additional documentation for amounts up to 50,000 RON. Overall, Instant Factoring provides online financing for individual invoices of up to 100,000 euros.

To date, the company has provided 3 million euros in financing to micro-enterprises in Romania, with approximately 1,700 financing transactions completed in the 10 months since its inception. The average financing value per invoice was approximately 2,100 euros, double the value estimated at the time of market launch, and the non-performing loan ratio relative to current exposure was below 1.5% at the end of 2018.

➡️ Read the full article on forbes.ro: https://www.forbes.ro/cristian-ionescu-este-numit-ceo-si-presedinte-al-instant-factoring-prima-companie-romaneasca-de-micro-factoring-online-88642