FIRA partners with PrimeRevenue

Tuesday 28 June 2022 15:09 CET | News

FIRA (Trust Funds for Rural Development), a Mexico-based second-tier development bank, has partnered with PrimeRevenue, a provider of technology-enabled working capital solutions

eFactor's digital solutions, powered by PrimeRevenue's technology, will help streamline the funding of FIRA with its network of banking and non-banking financial intermediaries (IF's). The foregoing will facilitate FIRA funding in the eFactor Marketplace, which is estimated to close with more than USD 7.5 billion USD in 2022.

This model of connecting bank with bank, in this case, FIRA with its network of FIs and NBFIs, is created to facilitate factoring programs for clients related to the rural, agricultural, forestry and fishing sectors, as well as localities with a population of up to 50,000 inhabitants.

With this alliance, FIRA extends its financial services to small, medium, and large producers, for working capital and factoring. Once migrated to the FIRA portfolio, they will be able to use the resources through the eFactor Network technology's platforms.

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Keywords: expansion, partnership, banks, financial institutions, financial services
Categories: Banking & Fintech
Companies: Primer, PrimeRevenue
Countries: Mexico
This article is part of category

Banking & Fintech




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