Fintech Factris lands €50 million for SME loans from Aegon AM
AMSTERDAM, 17 April 2023 /PRNewswire/ — After reaching the milestone of financing €1 billion in invoices in Q1 2023, Amsterdam-based fintech Factris has gained further momentum thanks to a €50 million funding line from global investment business Aegon Asset Management (Aegon AM) in April 2023.
With this additional financing line, Factris is on track to expand its SME financing services to Estonia in Q2 of 2023, as well as providing more business financing opportunities in existing EU markets which include The Netherlands, Belgium, Poland, Lithuania and Latvia.
This new funding line complements other partnerships whose funding helped Factris finish 2022 with strong organic growth that included a 58% increase in cumulative funding volume year-over-year for their pan-European market and an 83% increase in funding volume in The Netherlands alone.
These results for 2022 far exceeded expectations in a year marked by the economic consequences of the ongoing war in UkraineBrexit, trade wars, sanctions, record inflation and rapid interest rate hikes.
Factri’s CEO Brian Reaves sees Aegon AM’s financing line as further proof that Factris’ alternative approach to financing is the way of the future. He commented: “Without our exceptional risk management track record supported by our team and technology, we would not be qualified to work with such outstanding institutional investors. Thanks to strong partners such as Aegon AM, we have the capacity with our technology-driven financing solutions to support business owners who are struggling just when they need it.”
Aegon AM’s head of insured credit and trade finance George Nijborg shared similar sentiments, commenting: “We are delighted to continue to be at the forefront of financing European SMEs and to support Factris’ impressive growth. The strong partnership established with Factris demonstrates that creating attractive financing solutions for institutional investors helps to closing the gap needed to support SMEs, which are the backbone of European economies.”
About Factris
Factris is a fintech company that aims to support European SMEs with financial technology and financing to improve business results. Factris received the award for SME Financing Specialists of the Year 2023 – Europe from Corporate Vision Magazine.
Since 2017, Factris has focused on helping businesses move forward with innovative financial tools such as invoice financing, debt management and insurance to provide SMEs with fast and convenient working capital exactly when and how they need it most.
Along with pioneering financial tools, Factris has also pioneered new technologies that promote growth and increase the availability of financial products. These include their proprietary FAB (Finance Automation for Business) platform that makes accessing and managing finances easy and convenient, along with an AI-powered risk management system that has helped solve one of the biggest problems facing financiers.
Factris is now active in five EU countries and is slated to join a sixth by the end of 2023 as it realizes its vision to become the leading pan-European source of alternative financing for SMEs.
For more information, visit www.factris.com or contact:
[email protected]
+31 20 50 50 333
About Aegon Asset Management
Aegon Asset Management is an active global investor. Our 380 investment professionals manage and advise assets of €292 ($311/£259) billion (per 31 December 2022) for a global client base of pension schemes, public funds, insurance companies, banks, wealth managers, family offices and foundations.
We organize our investment capabilities around four focused investment platforms where we have extensive asset class expertise: Fixed Income, Real Assets, Equities and Multi-Asset & Solutions. Each platform has dedicated teams, organized globally and committed to maximizing their specialist areas. These platforms and the fiduciary business are supported by a team dedicated to responsible investment.
By organizing our investment teams globally, we work to leverage our expertise and research resources across regional boundaries. We believe this improves our profit potential and helps to provide better investment results for customers.
Across platforms, we share a common belief in fundamental, research-driven active management, underpinned by effective risk management and a commitment to responsible investment. Our investment platforms have the flexibility to organize the resources and processes to best suit your focus area.
We are a global business: Our 1,200 employees work across the board EuropeAmerica and Asia. We invest globally and serve clients locally.
For more information on Aegon Asset Management, visit www.aegonam.com
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