Small and Medium-Sized businesses or SMEs can sometimes struggle in managing their liquidity position better. Amsterdam headquartered fintech Factris helps such SMEs by turning their invoices into cash in just 24 hours. The startup seemed to be taking it slow with an initial seed funding back in 2018 and quick money raise via grant funding earlier this year. However, the company has now zoomed ahead with a notable €50M in a new financing agreement.
Helping SMEs better manage their liquidity position
The latest €50M funding for Factris is based upon a secured financing agreement with asset manager NN Investment Partners (NN IP). The company is poised to utilise the fresh funds for providing easier financing to European SMEs. It does so by purchasing their trade-related invoices, which enables SMEs to better manage their liquidity position.