By Emea Riga
Romanian Start-ups Cubus Arts and Instant Factoring integrated their two platforms, factureaza.ro and instant factoring.com, for the Romanian market.
The partnership with factureaza.ro is part of the Instant Factoring mission to support the small and medium Romanian enterprises in their process to adapt in the digital environment. Consequently, they offer financing products that are exclusively available online.
“The past few month experience emphasized that digitization of all the company flows, including the relationship with the third parties should be a top priority in the actual market economy. Therefore, we want to be an active player in this process and to offer flexible, fast and automatic solutions for the Romanian companies, for both local and international commercial activity.” said Cristian Ionescu, Instant Factoring co-founder.
The factureaza.ro platform helps the companies to issue invoices to corporate clients and offer integrated solutions for the entire workflow, from the issuance of the invoice to its collection. The additional integrated services through which the Brasov based start-up supports its customers in the commercial process are e-commerce platforms, payment processors, suppliers for collecting outstanding debts and those to finance invoices on time, such as the partnership with Instant Factoring. Each additional functionality aims to digitize work processes, saving time and human resources, usually consumed in manual and bureaucratic activities. Users interact with friendly, intuitive and easily accessible interfaces.
“We are constantly concerned with developments in our platform and we want to integrate the best additional services on the market, in order to consolidate it into a useful, friendly and accessible tool for our customers. We want to bring added value in the commercial process of our customers to better control the level of liquidity in the company and to take advantage of market opportunities”, says Andreas Philippi, founder of factureza.ro.
The integration with instantfactoring.com comes in support of factureaza.ro customers, facilitating the financing of invoices in a maximum of 24 hours. The entire access procedure is done directly from the billing platform application, through an extremely simple process – literally by 2 clicks. The customer logs into his account, selects the invoices still in the payment term, requests the financing by filling in some identification data of the company, and receives back the financed value, and the money is transferred to his account in maximum 24 hours.
Instant Factoring finances up to 100% of the value of invoices, for companies with commercial activity in Romania, regardless of the field of activity and the company’s experience on the market. In the assessment of the granting, the emphasis is placed on the financial situation and the payment history of the debtor company. By requesting the financing of invoices by Instant Factoring, the company implicitly receives an analysis of the solvency of its business partners. Thus, entrepreneurs can make correct and informed decisions about the commercial risks they are subject to.
Instant Factoring’s financing solution supports companies that need quick access to cash to pay urgent payments to the State, employees and suppliers, as well as to take advantage of development opportunities, such as the purchase of equipment or raw materials for larger unintended orders.
“Our financing product meets the needs of companies that have long payment terms and perhaps, a less varied portfolio of customers, so their money is locked for 30-60 or even 90 days. But there are also companies that are in urgent need of liquidity and may only have a few days to maturity and there is no way to defer an urgent payment. That is why our funding fee applies for every remaining day until the invoice is due and not necessarily monthly,” says Cristian Ionescu, co-founder of Instant Factoring.
Instant Factoring is the first online micro-factoring fintech company of Romania dedicated to small and micro-enterprises and a member of the European Association of Fintech Innovate Finance companies based in London. Instant Factoring is an IFN registered with the National Bank of Romania. By launching the online factoring platform www.instantfactoring.com, the company is committed to supporting the development of small businesses through fast and easy financing solutions with the help of technology. Instant Factoring was named Best Fintech Startup of the Year in Central Europe at the Central European Startup Awards (CESA Awards) 2018.
The factureaza.ro platform is operated by Cubus Arts, a software development and maintenance company for web services, cloud infrastructure, data warehousing and database clusters (high availability), with offices in Brasov and Sibiu. factureaza.ro was developed and launched in 2007, at the same time with the change of legislation and the elimination of the tax bill – printed only on the national printing press. The billing platform aims in particular at SMEs who provide services to international customers.
By Emea Riga