Raiffeisen Bank, one of the biggest lenders in Romania, has signed a partnership with local startup Confidas, which provides updated information about over 600,000 active firms in the country and sends automated alerts about payment delays for selected firms.

Through this partnership, Confidas services will become available to Raiffeisen Bank clients, allowing them to check the behavior of their business partners.

“This collaboration is a natural consequence of the Bank’s strategy to cooperate with young and innovative companies that develop solutions providing added value to our clients. We believe this is a starting point for integrating additional functionalities for SMEs,” said Raluca Nicolescu, Executive Director for SMEs at Raiffeisen Bank.

Confidas was founded by 21-year old Romanian entrepreneur Eduard Burghelia.

editor@romania-insider.com

(Photo source: Confidas)