Factris acquires Lithuanian lendtech Debifo
Factris has completed the total acquisition of Debifo, a working capital provider in Lithuania, for an undisclosed purchase price.
According to the firm, Debifo has a 35% market share in the alternative lending space – and growing.
The acquisition of Debifo represents a step in executing the Factris pan-European strategy. Speedinvest and Optima Investments support Factris with additional funding for acquisitions of European working capital providers.
“We are looking forward to fostering Debifo’s talent as Factris expands across Europe to provide working capital to SMEs,” says Brian Reaves, Factris, CEO.
Justas Šaltinis, CEO and founder of Debifo, will join Factris management board as chief operational officer (COO).
In December 2018, Factris concluded a €100 million credit facility agreement through a Swiss investment advisor Ruvercap. The credit facility will be used to provide working capital to small and medium-sized businesses throughout Europe.