The Dutch fintech finished 2022 with record-setting financing results in five EU countries
Their 2022 momentum led to surpassing the €1 Billion mark In financing in Q1 of 2023
Amsterdam-based Factris closed out 2022, surpassing expectations thanks to a year-end report showing double-digit increases in average portfolio size, number of clients, and financing volume. 2022 also saw Factris starting to generate monthly profits and re-investing in growth.
Given the instability and uncertainty in the EU financial market in the past year, this success has come as a surprise to many. However, both Factris and their stakeholders are thrilled with the results.
Thanks to this forward momentum, the Dutch fintech has now officially financed over €1 Billion in invoices early in 2023.
Noteworthy statistics from their 2022 results include:
- An industry-leading non-performing loan (NPL) ratio of .24 percent, unheard of in the small-business lending space
- A 58% increase of cumulative financing volume year over year for their pan-European market, with an 83% financing volume increase in the Netherlands alone
- A 42% increase in portfolio size for their EU market
- 43% of onboarded clients for their EU market are active clients, with 65% of onboarded NL clients active, respectively
- An average invoice size in their EU market of €3.807, with a maximum invoice size of €1.578.975
This €1 Billion financing milestone was accomplished thanks in part to a mix of innovative, tech-focused financing services combined with fresh funding. This success has allowed the fintech to purchase other factoring companies’ portfolios, further extending their alternative-financing reach.
Its main financial product is factoring, where the company purchases unpaid invoices from SMEs for a fee, allowing small and medium-sized businesses to receive fast, convenient funding. The product is now available in five European countries and is looking to expand into several more in 2023.
CEO Brian Reaves is thrilled with the accomplishment. He commented, “Those of us who have been at Factris since the beginning have always known that we would reach the momentous achievement of financing € 1 billion–we just didn’t realize it would be so soon. But by pairing fresh funding from our investors with the latest fintech tools to provide fast, affordable financing for SMEs, our success hasn’t come as a shock–more like the expected results from a well-executed plan.”
Factris is a fintech company on a mission to provide quick, low-cost working capital to European SMEs via financial technology with personalised guidance. Factris received the 2023 SME Financing Specialists of the Year award – Europe from Corporate Vision Magazine.