Romanian fintech company Instant Factoring IFN receives 5 million lei in funding from the European Investment Fund

The Romanian fintech company Instant Factoring IFN has signed a subordinated loan agreement worth 5 million lei (1 million euros) with Instant Factoring IFN, a Romanian entity, to help it expand its lending to small businesses in the country, according to an EIF press release.

Instant Factoring is a non-bank financial institution and a fintech factoring platform that provides micro and small businesses with access to financing. Instant Factoring began operations in 2018 and has grown significantly since then, helping underbanked and underserved companies grow their businesses through 100% digital financial solutions.

“Through the agreement signed today, Instant Factoring will increase both its lending capacity and its institutional capacity to serve micro and small businesses in Romania, helping to stimulate economic growth in the region. As pressure on the EU’s financial resources grows, the challenge is to put our capital to work effectively and efficiently to ensure that our support reaches the smallest players in the economy,” said EIF Executive Director Marjut Falkstedt.

Instant Factoring CEO Cristian Ionescu said the EIF loan will pave the way for new opportunities for growth and development. He called the support an “important step” in the company’s collaboration with the EIF.

“We are honored that Instant Factoring is the first fintech and factoring company in Romania to receive funding from the InvestEU program, managed by the European Investment Fund. This funding not only validates our mission to support underfunded and unbanked small and micro-enterprises, but also confirms our commitment to implementing the highest standards of management and governance. The rigorous selection process and our fulfillment of the EIF’s strict criteria reflect the quality and professionalism of our team. The funds will be used to expand our operational capacity, open new branches, grow our sales and marketing team, and invest in technology and software. This support will enable us to increase our lending capacity and better meet the needs of our customers, thereby contributing significantly to Romania’s economic development. This financing represents an important step in our collaboration with the EIF and paves the way for new opportunities for growth and development in the medium and long term. “We are confident that this partnership will continue to grow and have a lasting positive impact on the financial market and the economy as a whole,” said Cristian Ionescu, CEO of Instant Factoring.

Instant Factoring is Romania’s first online micro-factoring fintech company dedicated to small businesses and micro-enterprises, and is a member of the London-based European fintech association Innovate Finance. Instant Factoring is a non-bank financial institution (IFN) registered with the National Bank of Romania. By launching the online factoring platform www.instantfactoring.com, the company aims to support the growth of small businesses through fast and easy financing solutions powered by technology.

➡️ Read the article on economica.net: https://economedia.ro/fintech-ul-romanesc-instant-factoring-ifn-primeste-o-finantare-de-5-milioane-lei-de-la-fondul-european-de-investitii.html