How about a company that turns your invoices into cash in just 24 hours?
Well, an Amsterdam-based startup named Factris is trying to make that model work and has proved itself to be quite successful so far. The startup is flourishing so quickly that recently it has got a capital injection of €1.5 million from European venture capital fund Speedinvest Fintech.
Factris: how does it work?
Factris provides an online invoice factoring platform targeting European SMEs where invoices can be paid on the same business day they’re uploaded. Basically, the fintech startup aims to take care of invoice matters, so entrepreneurs can focus on making their business grow. Partners can benefit from the scalability and robustness of Factris’ factoring platform as it offers stability and scalability through technology and shared processes and resources, while partners offer the personal and local approach that customers need.
“Our approach is different from existing players in the industry since we offer local entrepreneurs to be joint venture partners in their local markets. This gives us access to their client base, while entrepreneurs share in the value they help to build,” said Brian Reaves, Factris CEO.