Romanian online factoring firm aims for EUR 15 mln loan volume

Instant Factoring, a Romanian start-up providing online micro-factoring to small and medium-sized enterprises, aims to reach a volume of EUR 15 million in granted loans by the end of the year.

In the first half of this year, the volume of processed financing requests increased five times compared to the July-December 2018.

Instant Factoring's financing requests in the first half of the year came from industries such as trade and distribution (22%), transport (19%), services to enterprises (18%), and construction (9% %).

The company has seen rising demand from service firms. In the sector, there is a significant number of small firms such as management or financial consultancy firms or advertisers, Adina China-Birta, Country Manager Instant Factoring explained.

It is one of the industries hosting the most profitable micro-enterprises under EUR 500,000 turnover, with combined profits of RON 4.65 billion (EUR 1 bln) for a turnover of RON 11.66 billion (EUR 2.44 bln), according to the preliminary public data for 2018, she added.

(Photo: Instant Factoring Facebook Page)