EIF subordinated loan strengthens Instant Factoring’s capital base, helping increase lending to underbanked businesses in Romania. Deal marks first time a Romanian fintech and factoring company receives InvestEU funding. This agreement was facilitated by the InvestEU programme, which aims to trigger over €372 billion in additional investment over the period 2021-2027. The European Investment Fund (EIF) signed a RON 5 million (€1 million) subordinated loan agreement with Romania-based fintech Instant Factoring IFN to help it expand lending to small businesses in the country. Instant Factoring is a non-bank financial institution and fintech factoring platform that offers micro and small companies access to financing. Instant Factoring began operations in 2018 and has grown significantly since then by helping underbanked and underserved companies develop their businesses through 100% digital financial solutions. “With the agreement signed today, Instant Factoring will be enhancing both their debt capacity and their institutional capacity in serving the micro and small companies in Romania, helping to drive economic growth in the region,” said EIF Chief Executive Marjut Falkstedt. “With increasing pressure on EU financial resources, the challenge is to put our capital to work efficiently and effectively, to make sure our support reaches the smallest actors in the economy.” Instant Factoring Chief Executive Officer Cristian Ionescu said the EIF loan would pave the way for new growth and development opportunities. He also called the support an “important step” in the company’s collaboration with the EIF. “This funding validates our mission to support underfunded and unbanked small and very small businesses,” Ionescu said. “it also confirms our commitment to implementing the highest standards of management and governance, meeting EIF's strict criteria. The funds will be used to expand our operational capacity, open new branches, develop our sales and marketing team and invest in technology and software. This support enables us to increase our lending capacity and better serve our clients' needs, significantly contributing to Romania's economic development.” Background information About the European Investment Fund As of 2 May 2024 the EIF aligns its logo to the EU family, reinforcing its role as a key EU player. The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF contributes to the pursuit of key EU policy objectives such as competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability and more. The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budgetary guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.
Moldovan president Maia Sandu voiced her support on Tuesday evening, May 13, for Nicușor Dan, the independent candidate in Romania’s presidential election, and urged Moldovans with Romanian citizenship to vote on Sunday to protect Romania’s European and democratic progress. In a video shared on social media, Sandu praised Dan’s “decency, resilience, and respect for the […]
Two Romanians were arrested during Sunday night, May 11, after robbing empty houses in the evacuated mountain village of Brienz located in the Swiss canton of Graubünden. The village had been evacuated since November due to rock falls. The locality was, however, monitored by the authorities to prevent break-ins. The would-be thieves apparently tried to […]
The European Bank for Reconstruction and Development, or EBRD, has revised its estimates regarding the evolution of the Romanian economy in 2025 downward to 1.6%. The bank expects Romania’s GDP to grow 0.2% less than the 1.8% estimate made in February, and to increase by 2.4% in 2026. Romania's GDP growth slowed to 0.8% in […]
During a meeting on Monday, May 12, the Cluj-Napoca Local Council approved a draft resolution that imposes smoking restrictions in several public spaces in the city, including public transport stations, parks, and sports facilities. The resolution was adopted with 22 votes in favor and 3 abstentions, and will come into effect 90 days from the […]
An internal survey by Romanian Business Leaders, which does not have national representativeness but was answered by 417 entrepreneurs, shows that 62% of entrepreneurs expect to have to make layoffs, while a third expect the number of employees to remain the same. The expected layoffs are directly connected to the possibility of Romania choosing a […]
Romanian Istvan Kovacs will be the main referee for the UEFA Champions League final between Paris St-Germain and Inter Milan, which will be played on May 31 in Munich. The match will be Kovacs’ third European final in the last 4 years. The 40-year-old referee has previously officiated the UEFA Europa Conference League final in […]
