Factris, an Amsterdam, The Netherlands-based fintech company that buys unpaid invoices from businesses, providing instant capital, closed a €5M Series A equity funding.
The round was led by AB Ventures, the corporate venture capital arm of the Arab Bank, with participation from current investors Speedinvest and Optima Investments, along with high networth investors.
The company intends to use the funds to continue to expand operations and its business reach. Factris is now at various stages of onboarding other factoring companies to become brokers or partners, thus further extending their financing impact throughout the EU.
Led by CEO Brian Reaves, Factris is a fintech company on a mission to provide low-cost working capital to SMEs utilizing the FAB technology platform, deep receivables management know-how combined with partners with local knowledge.