iFactor
An innovative online solution that brings together small-medium sized companies interested in selling their individual outstanding invoices for immediate cash, and investors and banks looking for diversifying their asset portofolio with a low-risk investment.
| EUR | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 56 % | 113 % | 93 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (298 %) | (116 %) | (39 %) | (23 %) |
| EV | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Based in Bucharest, Romania, iFactor operates as a fintech platform focused on providing alternative financing solutions for small and medium-sized enterprises (SMEs). The company was founded by Cosmin Curticapean, an experienced entrepreneur, who identified the challenges SMEs face in accessing working capital through traditional banking channels. He is joined by Manuel Costescu, who brings a deep understanding of the financial ecosystem from his 15 years at JPMorgan and McKinsey, and a tenure as Deputy Minister for Trade and Investment in the Romanian government. The leadership team also includes Mihai Grosu as Chief Technology Officer and Sebastian Presecan, an expert in AI and neural networks.
iFactor has developed an online marketplace that connects SMEs in need of immediate cash flow with investors, such as banks, hedge funds, and private equity firms, looking to diversify their portfolios with low-risk, short-term assets. The core of the business is invoice financing; SMEs can sell their outstanding invoices on the platform to receive immediate liquidity, addressing the common problem of waiting 60-120 days for client payments. The platform utilizes a proprietary auction system, artificial intelligence, and alternative data for its credit scoring and underwriting processes, aiming to provide more favorable financing terms for SMEs. This model serves two main clients: SMEs (Sellers) who need to unlock working capital tied up in unpaid invoices, and Investors (Buyers) seeking secure, high-yield, short-duration investment opportunities. Revenue is generated by intermediating these transactions on the platform.
The company has achieved several milestones, including becoming the first Romanian company to be listed on the Seedrs equity crowdfunding platform, where it surpassed its €625,000 funding target in March 2021. This was part of a larger $900K equity crowdfunding round. Subsequently, iFactor secured $100K in a Pre-Seed round from Startup Wise Guys in July 2022. The company has announced plans to rebrand as Lendox to reflect its expansion into delivering smart lending for a more inclusive economy.
Keywords: invoice financing, SME lending, fintech, alternative finance, working capital, credit scoring, online marketplace, asset diversification, trade finance, accounts receivable