Instant Factoring, a major Romanian fintech player in the segment of factoring services for companies, announced that it is expanding in Serbia.

The potential of the Serbian market, as revealed by the growing amount of outstanding invoices and late payment is increasing, the company explains.

The total value of invoices financed by Instant Factoring, which has operated for three years on the Romanian market so far, exceeds EUR 55 mln, out of which EUR 30 mln this year alone. The Romanian company will provide services to small business owners and SMEs in Serbia, “who will have the opportunity to collect unpaid bills in just 24 hours by using the service of invoices financing developed by Instant Factoring.”

This particular segment of smaller companies, which accounts for 87% of the total number of companies in Serbia, is not sufficiently addressed by the banks in terms of factoring services, the Romanian fintech player explains. The maximum value of invoices that can be financed through Instant Factoring amounts to EUR 100,000.

Instant Factoring was founded in October 2018 by a group of Romanian entrepreneurs with experience in financial services, software development and investment banking services. It quickly became the market leader in Romania in the sector of alternative invoice financing.

Since its launch, Instant Factoring has attracted several rounds of capital totalling over EUR 5 mln from private investors, but also from investment funds in the US, UK and Romania.

(Photo: Melpomenem | Dreamstime.com)

andrei@romania-insider.com