Amsterdam-based fintech Factris has received €50 million from Aegon Asset Management (Aegon AM) to cement its plans to bring its SME financing services into Estonia this quarter.
“We are excited to continue being at the forefront in financing European SMEs and in backing Factris’ impressive growth. The strong partnership established with Factris shows that creating attractive financing solutions for institutional investors helps plug the gap needed to support SMEs, which are the backbone of European economies," says Aegon AM’s Head of Insured Credit and Trade Finance, George Nijborg.
Factris says it finished 2022 with strong organic growth - a 58% increase of cumulative financing volume year over year for their pan-European market and an 83% financing-volume increase in the Netherlands alone.
It claims it financed €1 billion in invoices in the first quarter of 2023.
“Without our exceptional risk management results supported by our team and technology, we would not be eligible to work with such outstanding institutional investors. Thanks to strong partners like Aegon AM, we have the capacity with our tech-powered financing solutions to support struggling business owners right when they need it," says Factris CEO Brian Reaves.
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