TBI Bank and Instant Factoring launched the first digital tool for financing SMEs' invoices

Published on 06.04.2021

TBI Bank and Instant Factoring developed a new digital invoice financing solution that aims to help SMEs overcome the negative impact of uncollected invoices during the pandemic environment. 

TBI Bank and Instant Factoring launched the first digital tool for financing SMEs' invoices

The two companies are now providing to their customers a "one-stop-shop" digital invoice financing.

The new service allows any TBI Bank customer to turn their uncollected invoices into cash in a fast and transparent way. With a click, the client is redirected to Instant Factoring's platform to create an account, upload the invoices he wants to collect without waiting for the due date.

The analysis is completed in 2 hours, and by the next day, the client receives the money in the account.

"Business clients have complex financing needs, and that also includes converting receivables into liquidity. This way, they can ensure quicker access to cash flows and limit the impact of long-term revenue collection periods on their activity. We are always looking out for our clients' business context and needs, so we are now including a factoring solution in our financing portfolio", says Florentina Mircea, Chief Business Banking Officer at TBI Bank.

Instant Factoring provided last year 77 million lei in financing to small and medium companies, an increase of 90% compared to 2019.

"Our mission is to support Romanian SMEs and entrepreneurs through an invoice financing solution with easy and fast access, a suitable tool for their needs, especially at a time as difficult as the one we are facing. The partnership with TBI Bank is an opportunity to bring our solutions closer to those who need them in order to support their business and, implicitly, to support the recovery of the national economy", declared Cristian Ionescu, CEO and co-founder of Instant Factoring.

TBI Bank is a phygital lender, part of 4finance, one of Europe's largest digital consumer lending groups. TBI Bank today operates in Bulgaria, Romania, Germany, Sweden, Denmark, Lithuania, and Poland. 

TBI has served more than 1 million customers in 2020 alone and approved almost 500,000 loans. 

Instant Factoring is the first fintech online factoring company in Romania that helps small companies and micro-enterprises through fast financing solutions.