Factris, NN Investment Partners form European financing agreement

Thursday 10 September 2020 12:28 CET | News

Fintech Factris has closed a new EUR 50 million secured financing agreement with asset manager NN Investment Partners (NN IP).

The facility will be used to provide financing to Europe-based small and medium-sized enterprises (SMEs) via the purchase of their trade-related invoices, which allows companies to get paid quicker for their sales and thereby helps them to manage their liquidity position better. As invoice finance is proving to be one of the fastest forms of funding available to small businesses, it is becoming a valuable tool in helping SMEs to manage their working capital requirements. This has taken on importance during the Covid-19 pandemic, which has negatively impacted the cash position of many independent businesses, according to the official press release. 

This newly secured debt facility benefits from full trade credit insurance. This enhancement enables NN IP to meet its responsible investing (RI) ambitions by supporting the European real economy, while also delivering a lower risk investment opportunity for its clients. In addition, via combining NN IP's RI criteria with Factris's policies, the transaction ensures funding will be allocated towards more sustainable small and medium-sized businesses and sectors.

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Keywords: Factris, NN Investment Partners, NN IP, Europe, financing , asset manager, fintech, secured financing, SMEs, SMBs, invoices, trade, liquidity, invoice finance, COVID-19, pandemic, trade credit insurance, real economy, responsible investing
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech