Debifo tripled the number of its clients in 2017
In 2017, the invoice financing company Debifo earned even more trust from both clients and investors – the company improved all key performance indicators and attracted new clients, thus becoming the largest non-bank invoice financer in Lithuania by the number of clients.
The number of Debifo clients grew from 50 in 2016 to 153 last year. According to Justas Šaltinis, Director of Debifo, active adaptation of services to the needs of small and medium-sized business could be pointed out among the key reasons for this growth.
“Last year, flexibility, transparent price and speed were our key priorities. We approve financing within three days; however, there have been cases when we have approved financing on the same day.
“Our ability to quickly approve financing is particularly appreciated by small companies with the turnover of up to EUR 1 million, yet there has been an increasing interest from larger medium-sized companies,” says Mr Šaltinis.
In total last year, Debifo financed invoices for almost a triple amount than in 2016. The value of invoices financed last year accounted for EUR 20.5 million. The average amount of Debifo financed invoice reached EUR 3500.
Last year, Debifo managed to expand the circle of its clients, attracting much more clients oriented to export markets – in 2017, they accounted for 32 percent of clients, whereas in 2016 – as few as 1 percent. The majority of Debifo clients are from wholesale trade, logistics, medicine, construction and other sectors.
Last year, the company also succeeded in gaining investors’ trust. It signed a financing agreement with the UK investment fund Advance Global Capital (AGC), reached 4500 investors on the peer-to-peer lending Mintos marketplace. At the end of the year, Debifo controlled an active portfolio of EUR 3 million.
“Conclusion of an agreement with AGC, which is one of the key players in the non-bank factoring market, is an important step in guaranteeing uninterrupted financing from a reliable partner as well as proof that we have been gaining more trust and recognition in the international market,” notes Mr. Šaltinis.
Last year, Debifo was also recognised as the TOP Company in the assessment of business credibility implemented by Rekvizitai.lt. This recognition, achieved by as few as 5 per cent of the most credible and economically stable companies, is highly significant for innovative and ambitious business. The award of the TOP Company is not the first achievement of Debifo. In 2016, Debifo won the award of the financial service of the year in the Service of the Year competition organised by the Lithuanian Business Confederation (LBC). The company has also been mentioned among 5 most promising financial sector start-ups in the prestigious business publication Forbes.