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iFactor raises a funding round and becomes the first Romanian company to be listed on Seedrs

iFactor, an innovative fintech that aims to democratize SME lending receives its seed funding in a round led by ROCA X and becomes the first Romanian startup to be listed on the London-based equity crowdfunding platform Seedrs.

The amounts raised will support the company in developing its services, as it aims to offer European private investors access to a new class of investment assets. iFactor plans to heavily scale-up its operations in the next two years, starting from Romania, its expansion plans target markets such as the UK, Germany, Austria and Switzerland. The company has multiple products in development and is currently focusing on optimizing and strengthening its current offering.

Cosmin Curticapean, iFactor CEO & co-founder: ‘’I have chosen Roca X as a main partner due to the synergies that our product has with Impetum Group’s existing brands and business lines, additionally we share a common vision which represents an important asset that fuels our drive towards our final goals. Impetum Group’s vast experience in multiple areas, and particularly in the business distress area (through CITR and ROCA Investments) will aid us not only in overcoming the obstacles that we’ll undoubtedly encounter as an emerging fintech but more importantly in shaping the iFactor product as the go-to option for SME financing.”

Kirsty Grant, Chief Investment Officer Seedrs: “iFactor is an exciting fintech company with an ambition to extend its services across Europe and we are thrilled to  have them as the first Romanian company listed on our platform. Seedrs has supported fast-growth, innovative businesses across Europe for many years, and iFactor represents our first steps to supporting Romania’s thriving entrepreneur ecosystem.”

Matei Dumitrescu, Senior Investment Partner Roca X: ‘’iFactor marks a number premieres on the Romanian market, firstly the company has garnered strong support from both domestic and foreign investors and has proved that it is a viable but more importantly a necessary product. Secondly it is the first Romanian company that targets the alternative funding market that can actively aid the distress area, giving us faith that the product will witness rapid adoption and quick European scaling. Our partnership is a win-win deal that will in turn contribute to a more flexible and sustainable business ecosystem.”

With the launch of iFactor entrepreneurs and SME’s will have a more reliable, cost-efficient and nimble way to access liquidity, allowing them to have a swifter path to growth in line with the ever-growing demands of the market.

iFactor is the first European company to use a hybrid business financing model, it has been granted permission from the National Bank of Romania to include private investors in the business circuit, thus enabling them to easily invest in SMEs. Through its business model iFactor brings the next step in its market; it shifts SME financing that has thus far revolved around the banking sector towards a digital entrepreneur-centric model that stimulates growth.

In the coming months iFactor aims to accelerate its traction on the Romanian market and to become a relevant player while also having a viable factoring and loan product on the UK market.

The fundraising strategy has been designed to attract multiple types of parties such as early-stage institutional supporters, (Roca X & Smart Impact Capital) business angels and strategic partners.

About iFactor

iFactor is a startup founded in 2016 that specializes in digital SME financing solutions.

The company operates on the Romanian market and aims to extend its operations into the UK in 2021. It is currently developing both its existing and new products such as iFactor Pure Analytics (credit risk scoring based on alternative data), iFactor Advanced KYC (blockchain-based KYC) and iFactor Setl (an optimized payment and disbursement engine based on Open Banking and PSD2 licences). These new products will further grow the company’s versatility, allowing them to both create a new alternative financing market for SMEs and giving the ability aid legacy financial institutions such as banks to better serve SMEs.

About Roca X – For Dreams too big to be built alone

Roca X is a project aimed at disruptive early-stage businesses; towards young entrepreneurs with revolutionary technological ideas either in an MVP or prototype stage that share a vision of social impact and the passion to shape this vision into reality.

About Seedrs

Seedrs is a leading online investment platform. It allows investors to buy and sell shares in private companies, and ambitious entrepreneurs to gain investment for their businesses while building communities in the process.

Since its launch in 2012, Seedrs has funded over 1,200 deals, with over £1 billion invested on the platform to date. 

Business that have successfully raised funds with Seedrs include Revolut, Perkbox, Wealthify (sold to Aviva), Tandem, FreeAgent (sold to RBS), Allplants, Stamplay (sold to Apple), Chapel Down, Assetz Capital, Courier (sold to Mailchimp), THIS, Humble Grape, JAJA Finance and Mindful Chef (sold to Nestle).

Seedrs is backed by leading European institutional investors as well as over 4,600 of its own customers.

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