Dutch SME lender Factris secures €50m funding line from Aegon Asset Management
Amsterdam-based fintech firm Factris has secured a €50 million funding line from Aegon Asset Management to fuel its financing services for small and medium-sized enterprises (SMEs).
Factris secures fresh funding line
Founded in 2017, Factris provides SMEs in Europe services such as invoice financing, debt management and insurance, with the goal to dispense working capital to firms “exactly when and how they need it most”.
It also offers a proprietary Finance Automation for Business platform, allowing firms to better access and manage their financing, along with an AI-led risk management system.
With the fresh funding line, Factris plans to expand into Estonia in Q2 2023, while also providing more business financing in its operational EU markets including the Netherlands, Belgium, Poland, Lithuania and Latvia.
Factris CEO Brian Reaves says Aegon’s funding line will give the firm the capacity “to support struggling business owners” with its technology-led financial solutions.
Factris claims to have crossed €1 billion in invoice financing in Q1 2023. In 2022, the company experienced 58% growth in cumulative financing volume year-over-year and an 83% financing volume increase in the Netherlands alone.
