iFactor, a Romania-based hybrid B2B marketplace for alternative SME liquidity, has successfully secured its initial €625,000 funding target and is now nearing €715,000 through its equity crowdfunding campaign on Seedrs.
Founded in 2016, iFactor describes itself as a fintech startup that is on a mission to become the first online B2B marketplace that brings together investors and SMEs looking for alternative financing.
“We provide an online platform that brings together liquidy-seeking SMEs and investors to finance the cash needs of the formers, by buying their outstanding customer invoices. The duration of the process is reduced and the steps are simplified, as iFactor conducts efficient, bank-compatible risk assessments to mitigate both fraud and payment risk.”
iFactor’s platform allows SME to sell their outstanding invoices or apply for loans while banks and private investors may bid for these applications.
“Developed as a change of paradigm solution, good for growth economic phases, best fit in times of crisis, iFactor is shifting the lender deal orientation towards the borrower, the value creator entrepreneur.”
Funds from the Seedrs campaign will be used to expand and continuously develop the iFactor platform. The company is now offering 15.47% in equity at a €3.9 million through the funding round, which is set to close at the end of March.
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