Factris expands factoring into Belgium

Monday 21 February 2022 09:46 CET | News

Fintech Factris has launched their financing services to SMEs across Belgium. 

This new funding source will help Belgium-based SMEs access larger amounts of capital via factoring. This expansion, part of a larger pan-European strategy for Factris, will bolster hundreds of thousands of small and medium-sized businesses, accounting for 99.85% of all firms in Belgium.

Factoring has already seen steady growth in Belgium, averaging EUR 4.12 million growth in volume year-over-year over the past five years. However, Factris looks to expand this exponentially, focusing on automation and AI-powered risk management, making applications easier and approval faster, all while invoicing larger amounts than other factoring companies can offer, the official press release states.

The fintech already finances SMEs in several European countries, including Lithuania, Latvia, and the Netherlands. Factris is also slated to expand into two other markets by the end of 2022. 

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: e-invoicing, expansion
Categories: Banking & Fintech
Companies: Factris
Countries: Belgium
This article is part of category

Banking & Fintech


Discover all the Company news on Factris and other articles related to Factris in The Paypers News, Reports, and insights on the payments and fintech industry: