General Finance

Initially incorporated as Prestoleasing S.p.A. in 1982 by Armando Gianolli, the company that would become Generalfinance S.p.A. began its journey in the financial sector. In 1988, Armando's son, Massimo Gianolli, was tasked with liquidating the struggling leasing and consumer loan business. Instead, he spearheaded a strategic pivot, converting the company's focus to factoring—specifically targeting businesses facing financial distress. This marked a new direction for the firm, which he has led as CEO since 1990. A significant milestone occurred in June 2022, when Generalfinance listed on the Euronext STAR Milan segment, raising approximately €35.4 million.

Generalfinance operates as a specialized financial intermediary, focusing on providing factoring services to small and medium-sized enterprises (SMEs) that are experiencing financial difficulties or are in the process of restructuring. The company's business model centers on purchasing trade receivables, which allows its clients to mobilize their working capital and improve cash flow. Revenue is generated primarily through recourse (76%) and non-recourse (24%) factoring services. The company serves a diverse client base across sectors such as manufacturing, wholesale, transportation, and construction. Its distinct approach involves working with assignor clients that typically have low creditworthiness while the underlying assigned debtors are of high credit quality, providing significant risk diversification.

The core service offered by Generalfinance is a customized financing solution that combines the advance of funds against trade receivables with prudent credit management. This not only provides immediate liquidity to clients but also assists in improving their collection times and reducing insolvency cases. A key feature of its operation is a proprietary digital platform that facilitates a flexible service, reduces time-to-market, and increases operational efficiency. The company supports its clients through the entire restructuring process, from the initial signs of trouble to post-crisis recovery, positioning itself as a specialist in financing for distressed companies.

Keywords: factoring services, distressed debt, SME financing, trade receivables, working capital solutions, credit management, financial intermediary, corporate restructuring, recourse factoring, non-recourse factoring, Borsa Italiana, Euronext STAR Milan, Massimo Gianolli, accounts receivable financing, business financing, Italian finance, crisis financing, supply chain finance, debt purchase, credit solutions