Factris, who specialize in invoice factoring and alternative financing, have launched a tailored suite of services in Latvia, citing the rapidly developing market is “ripe for alternative financing”. They will hit the ground running having already on-boarded a number of clients who took note of the benefits of their factoring and ancillary services (such as invoice purchasing and reverse factoring).
There is a considerable movement towards alternative financing in the SME marketplace, as fintech has provided several more accessible options for low cost working capital provision. Traditional banks can cause frustration and problems for small and medium-sized businesses when they ignore or make it difficult for them to secure a working capital facility. These challenges imposed by banks have created a market for Factris and an edge in these fields by offering their innovative financial solutions and personalised services.