Since its inception, Floryn has received more than 60,000 credit applications, which are assessed using smart technology, such as data analysis and machine learning. The fintech company uses artificial intelligence to look at bank statements and other data points, among other things, with which faster risk analyses can be made. Floryn has a PSD2 license from De Nederlandse Bank (DNB).
Accordion to a Floryn representative, Floryn has provided more than EUR 650 million in financing since its launch and this expansion will allow them to help larger companies at more competitive rates, up to a credit limit of EUR 3 million. Floryn will use the financing to further strengthen its position as an alternative bank allowing entrepreneurs from small and medium-sized companies to receive business loans of up to EUR 3 million.
Floryn’s main offer is a business credit, meaning an amount of money provided by the fintech which users can withdraw and repay flexibly. With the online app customers decide how much they take and when. Interest is only paid on the amount withdrawn and users pay off a part every month, which they can always withdraw.
Recently, Floryn has also partnered with the business management platform FiveX to help ecommerce entrepreneurs grow by bundling the technologies of both companies. FiveX provides insights through business intelligence for all sales channels to online retailers aiming to grow. This allows ecommerce entrepreneurs to easily view all KPIs and profit at the product level to make decisions on their assortment.
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