Netherlands-based fintech company Factris has announced its expansion in Belgium, in order to provide SMEs with improved and secure financial solutions. Following this announcement, Belgian small and medium-sized enterprises (SMEs) will be given the possibility to leverage optimised financing capabilities and opportunities, with the new impetus provided to Factris.

The company will also focus on offering its suite of financial services in order to specifically improve the need of companies and businesses to utilise fast, secure, and flexible working capital. Factris is set to mainly assist SMEs with invoice factoring, which represents also its main financial instrument. Factoring tools will offer SMEs the possibility to leverage fast working capital by buying up their unpaid invoices for a small fee, with a process that is done online and with funds that will be made available within one working day.

Factris’ strategy of development Fintech company that was developed to provide European small and medium-sized enterprises (SMEs) with financial technology and financial solutions, Factris had multiple partnerships and launches in the last couple of months, covering several different geographic regions around the world. In April 2023, Factris received a EUR 50 million funding line from the Netherlands-based Aegon Asset management, aiming to maintain its momentum and fulfill its ongoing focus to improve the manner in which businesses move forward with innovative financial services, such as debt management, insurance, and invoice financing. In addition, the funding line was set to also optimise Factris’ plan to expand its SME financing solutions into Estonia in Q2 of 2023, as well as to offer more business funding capabilities and opportunities in existing EU markets, such as Poland, Netherlands, Latvia, Lithuania, and Belgium.

Moreover, the firm will also prioritise the process of further strengthening its financing services for institutional investors and customers, to provide SMEs and SMBs with the needed solutions and tools. Earlier in 2022, Factris announced its partnership with Eurowag, a pan-European integrated payments and mobility company, in order to offer Eurowag Cash to their customers. The product represented a pilot service that aimed to improve the manner in which transport and logistics companies finance invoices, as well as secure cash flow.

Furthermore, the tool was set to allow small and medium-sized businesses in the Commercial Road Transportation Industry to receive working capital in 24 hours, by financing unpaid invoices within factoring. Euroway also provided users with the capability to submit factoring applications within their Client Portal, while Factris needed to offer the factoring products and customer onboarding procedures via their Financial Automation for Business platform. .