Instant Factoring, the first online micro-factoring fintech company in Romania dedicated to small businesses, closes 2018 with a volume of over 1,500 granted financings. Their total value amounts to 2.7 million EUR.

The average invoice financing value was 10,000 RON (approximately 2,100 EUR), double the value estimated at the time of the market launch. The company expects to reach operational breakeven in the first half of 2019.

In 9 months of operation, Instant Factoring has successfully popularized its online micro-financing product among Romanian entrepreneurs looking for viable and efficient alternatives to traditional bank or factoring institution financing. The figures achieved demonstrate a growing appetite among small and micro-enterprises to support their businesses when they need immediate cash, without burdening their daily operations with paperwork and bureaucratic processes.

The most active companies on the online micro-factoring platform came from the following sectors: tax consulting and business services (accounting, auditing, advertising marketing services), business travel services, food service producers, and distributors of hospital equipment and installations.

"For 2019, we aim to increase our financing volume by 300% and exceed 1,000 unique clients. We already benefit from the support of an external investment fund and plan to attract further investments. A strategic development direction in 2019 includes diversifying the financial products offered, as well as entering new markets in the Central and Eastern European region. Our first year of activity has shown us that Romania is a young market in terms of entrepreneurship, but also a very dynamic one. The challenge lies in the fact that Romanian entrepreneurs have not previously had access to user-friendly financing solutions and have a certain initial hesitation in accessing them, and in this case, our role is an educational one. We are trying to popularize a seemingly sophisticated financial product in a way that is easy for everyone to understand, so that it can be easily implemented in the natural course of business development," said Cristian Ionescu, Chairman of the Board and co-founder of Instant Factoring.

Instant Factoring aims for regional expansion by opening new branches in Central and Eastern Europe, targeting at least two countries for 2019: "We will begin our regional expansion with Croatia, opening a new office by the first half of the year, and we will strengthen our presence with a second one in another country in the region in the second half of the year. We aim to become the regional leader in financing micro-companies and small businesses," added Cristian Ionescu.

Instant Factoring facilitates the growth of small businesses by providing them with flexible and innovative financing solutions by converting outstanding invoices into cash. The financing decision is made within 2 hours, thanks to the advanced technology the platform uses, and the client receives the money in their account within a maximum of 24 hours. The entire process is automated and completely online, all carried out with speed and transparency, without requiring additional documents for amounts up to 50,000 RON. Overall, Instant Factoring provides online financing for individual invoices of up to 100,000 EUR.

➡️ Read the full article on forbes.ro: https://www.forbes.ro/instant-factoring-prima-companie-fintech-de-micro-factoring-online-din-romania-dedicata-companiilor-mici-incheie-anul-2018-cu-un-volum-de-peste-1-500-de-finantari-acordate-valoarea-totala-acestor-88168