Factris Concludes €100 Million Credit Facility Agreement
AMSTERDAM, Dec. 3, 2018 /PRNewswire/ -- Factris announced the successful conclusion of a €100 million credit facility agreement through Swiss investment advisor ruvercap. The credit facility will be used to provide working capital to small and medium-sized businesses throughout Europe.
Factris is a fintech company offering factoring services with credit lines up to €5.0 million and pricing as low as 0.5% per invoice. The service caters to smaller business by having simple and flexible terms with no hidden fees.
Another differentiator is Factris' approach to business. While technology is important to improve efficiency, the fintech company understands business is personal. Factris retains a personal perspective in its highly automated service offering. The platform combines deep financial know-how with new technologies to deliver a great client experience. This approach enables the delivery of personalised services at scale while everyone else is cutting back or charging extra to speak with a real person.
"We have evaluated the busy factoring market for years. We found most factoring companies lack technical expertise and adequate low-cost funding in order to be successful in a very competitive market," says Brice Laurent, Factris CFO. "The partnership with ruvercap is another concrete step towards bringing Factris to the forefront of the European factoring market. We are growing in scale to provide lower cost credit for local entrepreneurs."
Jon Turnes, Executive Chairman & Partner at ruvercap: "We are happy to support the Factris management team's growth after a rigorous onboarding program including the review of the team credit policies. We have confidence they can manage the continued expansion after evaluating their track record."
About Factris
Factris makes factoring accessible in the most personal and efficient way, for small and medium-sized business. Factris takes 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. Factris offers stability and scalability through technology and shared processes and resources, while partners offer the personal and local approach that customers need.
Find out more: www.factris.com
About ruvercap
ruvercap is a leading investment advisor within the private debt universe based in Switzerland. ruvercap caters for institutional and professional investors who desire attractive interest rates from investment solutions with investment grade quality. ruvercap offers consistently attractive returns with fixed-income characteristics and investment grade protection by providing working capital.
Find out more: www.ruvercap.com
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