Brian Reaves, CEO, Factris

Amsterdam-based fintech Factris has released an updated version of their Finance Automation for Business (FAB) platform with an aim to reinvent and improve business financing. The supplier states that the new version will enable the firm to assist their teams in an effort to improve the speed and efficiency of financial services to SMEs.

“Financing is an inherently local business, and Factris has solved the problem by “scaling local”. We’re providing the tools to enable local people to work together efficiently. This new platform positions us to make a real impact in helping SMEs with their financing needs. To us, business is personal, and clients are never just a number,” said Brian Reaves, CEO of Factris.

According to a study by the World Bank, SMEs struggle to gain access to capital and difficulty in obtaining financing was one of the top three constraints faced by the SMEs. Therefore, Factris, as the company states, has developed financing tools and services such as Factoring and Invoice Financing to focus on service at a local level and deliver personalised services in the challenging financial climate.

Established in 2017, Factris’ first financing product turns unpaid invoices into cash within one business day, as we execute on our mission to help small and medium-sized European companies grow. The main advantage of factoring is that the financing limit grows with your business.

by Megha Bhattacharya
Market Analyst at IBS Intelligence