Amsterdam’s Factris reaches €1B financing milestone; expands access to alternative funding



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Amsterdam-based Factris, a fintech company that provides quick, low-cost working capital to European SMEs, announced that it has reached the €1B mark in financing in Q1 of 2023.

The fintech company says it ended 2022 with double-digit growth in average portfolio size, client count, and financing activity, exceeding forecasts. 

Factris also reports that it began to make monthly gains in 2022 and reinvested the money back into its expansion.

Growth and development

Statistics from Factris’ 2022 results include:

  • An industry-leading non-performing loan (NPL) ratio of .24 per cent, never before seen in the small-business financing sector
  • A 58 per cent rise in total funding volume YoY for their pan-European market, with an 83 per cent financing volume increase in the Netherlands alone
  • A 42 per cent increase in portfolio size for the EU market
  • In the EU market, 43 per cent of newly onboarded customers are active, with 65 per cent of onboarded NL clients active, respectively
  • Factris’ EU market has an average transaction size of €3.807 and a maximum invoice size of €1.578.975.

Factris says this €1B financing milestone was reached in part because of a combination of tech-focused financing services and fresh capital. 

Due to its success, the company has expanded its access to alternative funding by buying the assets of other factoring firms.

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CEO Brian Reaves says, “Those of us who have been at Factris since the beginning have always known that we would reach the momentous achievement of financing €1B–we just didn’t realise it would be so soon.”

“But by pairing fresh funding from our investors with the latest fintech tools to provide fast, affordable financing for SMEs, our success hasn’t come as a shock–more like the expected results from a well-executed plan.”

Financing unpaid invoices for cash flow

Founded in 2017 by Brice Laurent and Marcel Meijer, Factris’ goal is to use financial technology and provide individualised advice to quickly and affordably fund SMEs all over Europe.

Factoring, which is Factris’ primary form of financing, helps customers by providing working capital using their unpaid invoices.

Factoring is a financial transaction and type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount. A business will sometimes factor its receivable assets to meet its present and immediate cash needs.

The Dutch company claims that this alternative form of financing has proven to be faster in sourcing the required cash flow to businesses when compared to the more traditional forms of financing, such as businesses applying for a bank loan.

The product is currently offered in five European nations, with plans to enter more in 2023.


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Vishal Singh

Vishal Singh is a News Reporter and Social Media Marketing Lead at Silicon Canals. He covers developments in the European startup ecosystem and oversees the publication's social media presence. Before joining Silicon Canals, Vishal gained experience at the Indian digital media outlet Inc42, contributing to its growth with insightful content. Despite being a college dropout, his passion for writing has driven his career in journalism.

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