The Seedr listing of iFactor could open a door to other Romanian companies as well, as Matei Dumitrescu (pictured below), from Roca X (one of the supporters of iFactor), points out: вЂћIвЂ™m proud that we backed the first-ever Romanian company to being listed on Seedrs. The awareness and funding we have received so far from Seedrs investors do not only further validate our idea and business model but also helps us in gathering interested investors for the debt marketplace itself.вЂќ Two other products in development And the seeds are already planted (quite literally), not only because there is a team in London that managed to secure collaborations with key stakeholders, but also because of the Seedrs campaign, through which iFactor will gain additional funding.ДЄnd speaking of the Seedrs listing, we asked Cosmin what it means for iFactor to be the first Romanian company listed on the platform: вЂћWe are proud to be the first Romanian company to be listed on Seedrs and we are thankful to the Seedrs team for supporting us during our companyвЂ™s listing journey. With these tricks in their bag, alongside what they call a вЂћsolid Go to Market strategyвЂќ, iFactor hopes to start scaling to the UK and Germany in 2021. iFactor also has two innovations, which are the democratization of the SME lending process (done only by the banks up until now), which allows multiple investors to take part in it, and placing the entrepreneur in the middle of this process, as the lenders gravitate around him. iFactor uses an auction method and applies AI scoring techniques with Alternative data to вЂћrevolutionizeвЂќ the traditional factoring product and traditional SME Lending.ДЄnd this is not all. One of the main advantages of iFactor, as Cosmin sees it, is the fact that it has a high degree of novelty, which stems from the proprietary technology they use in the KYC and underwriting process. Therefore, our challenge is to change the вЂњskeptical viewвЂќ of our potential consumers into an acceptance of the iFactor product.вЂќД¬osmin Curticapean, CEO & co-founder, iFactor Advantages and innovation This means that people are unfamiliar with our idea and may take on a вЂњrejection stanzaвЂќ before trying it out. People are familiar with SME loans or with factoring and are increasingly familiar with alternative forms of financing nevertheless, we are the first to offer this type of hybrid financial service. вЂћWe are introducing a new type of service on the European market. вЂћWe want to reach a larger number of SMEs (Small-Medium sized Enterprises) and investors/banks and leverage media attention and be recognized as a genuine SME lending fintech with great scale potential,вЂќ Cosmin says, stating that the main emphasis of iFactor in 2021 will be on its growth вЂ“ accelerating customer acquisition and obtaining a foothold in the markets they currently operate. Indeed, the ambition of iFactorвЂ™s team is clear and very easy to see, especially when you talk about their plans of expansion for 2021. The product Cosmin is talking about is a Hybrid Marketplace, a solution that brings together small and medium-sized companies interested in selling their individual invoices for immediate cash, as well as investors and banks who are looking at a way to diversify their asset portfolio with a low-risk investment. That is why our strategy was to first execute comprehensive research based on our own investments so that we understand the regulatory and legal frames in different markets etc.вЂќ he adds. вЂћFrom day one, for us, developing this product only made sense if it would scale and be global. I initially wanted to build technology to compete with the banks and bring alternative liquidity to the entrepreneursвЂќ says Cosmin, talking about the beginnings of iFactor. вЂћItвЂ™s always been a struggle to bring bank financing to my small business and the financial crisis of 2008 has made it even worse.

Cosmin Curticapean, the CEO & co-founder of iFactor calls it вЂћa game-changing innovationвЂќ and, in order to understand why, we wanted to talk with him. Its goal is not a small one, aiming to democratize SME lending by using a hybrid business financing model. In February, iFactor marked a first: it became the first Romanian company to be listed on Seedrs, one of the largest online investment platforms.

In 2021, its founders aim for a European expansion, which will start with UK and Germany.It brings forward a Hybrid Marketplace, geared towards small and medium-sized enterprises.iFactor is the first Romanian company to be listed on Seedrs, one of the largest online investment platforms.

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