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Factris, Closes

Factris Closes Series A Round to Increase Reach

16.09.2020 - 15:46:50

Factris Closes Series A Round to Increase Reach. Factris United Kingdom United States of America Netherlands

(Finance Automation for Business) technology platform is now available to support other factoring companies in mitigating risk and help them to serve better struggling SMEs in need of working capital. Combined with the new financing facility, Factris is providing a stable, secure solution for funding SMEs.

CEO Brian Reaves explains the importance of partnering, "Factris is determined to help SMEs in this difficult environment either directly or via our partners. Factris is happy to be working with AB Ventures and is looking forward to providing financing services in partnership with them in selected markets."

"AB Ventures is excited to be part of the Factris journey and is looking forward to closing cooperation with Factris in developing receivables based financing solutions in Europe and beyond," commented Faisal Hakki, MD of AB Ventures.

About Factris

Factris is a European 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 strong partners with local knowledge.

About AB Ventures

AB Ventures was set up in 2018 as the independent Corporate Venture Capital arm of the Arab Bank. AB Ventures demonstrates the bank's commitment towards embracing digital innovation by investing directly in the next wave of innovative financial solutions, and – integrating them where relevant - into the financial services' value chain across multiple markets.

@ prnewswire.co.uk