Romanian fintech startup gets EUR 1.5 mln financing from US fund

Instant Factoring, an on online micro-factoring company for small and medium enterprises (SMEs), has received a EUR 1.5 million financing from a U.S. investment fund.

The new funds will help the company develop its micro-financing operations in Romania and reach a total volume of financed invoices worth EUR 20 million. The company also plans to expand its operations on other markets in the region.

The company offers local companies financing in less than 24 hours for invoices up to RON 10,000. For higher values, companies can ask for personalized offers.

The Instant Factoring platform was launched in April this year and has already financed 250 clients, the financed invoice volume amounting to EUR 2 million.

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(photo source: Pexels.com)

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