Germany-based digital bank FYRST and Netherlands-based SME financier abcfinance have entered into a cooperation in the area of factoring.
FYRST customers can purchase the fully digital factoring product Cashfox from abcfinance directly on the FYRST website. The digital bank FYRST, an offer from Deutsche Bank, offers founders, self-employed and freelancers banking services as well as business solutions. According to a FYRST representative, they offer customers digital business accounts with extensive payment solutions and cards, and services relating to corporate finance and administrative requirements.
With Cashfox’s pre-financing invoices, self-employed users and small business owners can upload open customer invoices to a portal and receive the full payment amount credited to their FYRST account within 24 hours. The user can decide which invoices he would like to have paid out in advance and which not. Invoices to companies as well as to private individuals can be converted into immediate liquidity.
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