Instant Factoring, the online micro-financing fintech of Romanian companies, expands to the Spanish market. After a 2023 with record growth in both Serbia and Romania, the company decided to take another step and offer alternative financing solutions to entrepreneurs in Spain.
“Spain comes as a natural step in the development of Instant Factoring. We are ready to offer Spanish entrepreneurs the same prompt, customer-oriented, transparent, 100% digital services. I strongly believe that small businesses are extremely important in any economy, but I also know that many times the doors are closed to start-up businesses. I put my shoulder to work to change this in Romania and Serbia and I succeeded. Now we are going to Spain with the objective of becoming a reliable partner for the businesses there”, said Cristian Ionescu, CEO of Instant Factoring.
An important actor that helped launch fintech in Spain is Micro Europe, a social investment company that actively contributes to the development of the microfinance sector throughout Europe, which became a shareholder of Instant Factoring in March 2023. For the launch in Spain, Instant Factoring carried out a competition analysis, which revealed that the micro-factoring market (factoring addressed to micro companies) needs new players to offer entrepreneurs cash-flow optimization solutions. With a competitive offer for budding entrepreneurs, the path of Romanian fintech on the Spanish market is off to a promising start.
“The start-up capital we allocate in Spain is 1.5 million euros. The market in Spain is 33 times bigger than the one in Romania, so we have an interesting road ahead of us, to say the least. We aim to grow progressively in such a way that we become a consistent presence and can strengthen our position in Spain as well as we did in Romania and Serbia”, added Cristian Ionescu.
Instant Factoring aims to attract at least 3 local investment funds into the shareholding of Instant Factoring Spain and is already in advanced discussions to do so, with the statement that it will hold majority control of the company.
The launch of Instant Factoring Spain will be marked at a reception held in Bilbao, Spain on 29 May 2024. University professor Dr. Pedro Manuel Sasia Santos, President of the European Federation of Ethical and Alternative Banks (FEBEA), author of numerous articles and conferences on topics related to corporate social responsibility, economic ethics, solidarity economy and organizational ethics. He will talk about the value of organizations that manage to have an important social impact through their activity.
The post Instant Factoring enters the Spanish market appeared first on The Romania Journal.
