- The new agreement will cover factoring, invoice trading, and loans to Swedish small and medium-sized enterprises.
- The project is receiving support through the InvestEU programme, which aims to mobilise more than €372 billion in additional investment over the period 2021–2027 for the EU's policy priorities.
The agreement is supported by the InvestEU programme, which aims to mobilise more than €372 billion in additional investment over the period 2021–2027 for the EU's policy priorities. Under the terms of the agreement, the EIF, which is part of the European Investment Bank Group (EIB Group), will provide a guarantee backed by InvestEU to Invoier to enable the company to offer new credit on attractive terms to its customers.
Small and medium-sized enterprises across Europe, particularly those lacking a documented track record, can find it difficult to access financing. The aim of the agreement is to make it easier for Swedish small and medium-sized enterprises to access the financing they need to grow and create both innovations and more jobs. This in turn will contribute to important political objectives such as strengthening Europe's competitiveness, promoting sustainable economic growth and supporting the digital transition.
Fintech company Invoier is an innovative alternative lender that offers a global, AI-based real-time marketplace for factoring and loans where small and medium-sized enterprises seeking short-term financing are connected with institutional buyers. With its invoice trading marketplace, the company strives to provide better financial terms for small and medium-sized enterprises.
EIF Chief Executive Marjut Falkstedt says:
– To address the growth challenges faced by small and medium-sized enterprises in Europe, we are very pleased to announce this capped guarantee agreement with our new innovative partner Invoier. The agreement, which is supported by the InvestEU programme, will cover factoring and loan transactions with SMEs. Through the AI-driven marketplace offered by Invoier, it will be easier for Swedish companies to gain access to finance to support their adaptation to a more sustainable development that drives growth and strengthens competitiveness.
The EU Commissioner responsible for economy, Paolo Gentiloni, says:
– Small and medium-sized enterprises are the backbone of the European economy. I am very pleased that InvestEU, through today's agreement, will help to provide more Swedish companies with the financing they need to take the next step in the digitalisation of their operations, in support of sustainable growth and employment.
Fredrik Mistander, CEO and co-founder of Invoier, says:
– Invoier’s partnership with the EIF is a defining moment for small and medium-sized enterprises, as well as for the efforts being made to create economic sustainability and factoring in Europe. Together, we are redrawing the financial landscape and ensuring that SMEs have the resources they need to thrive and contribute to a more sustainable future.
Background information
The European Investment Bank (EIB) is the long-term lending institution of the European Union and is owned by the EU Member States. The bank provides long-term finance for economically viable investments in order to contribute to EU policy objectives.
InvestEU programme does the European Union provide substantial long-term funding by mobilising significant private and public funds to support a sustainable recovery. The programme also helps to mobilise private investment for the European Union's policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together many different EU financial instruments currently available to support investment in the European Union, making it simpler, more efficient and more flexible to finance investment projects in Europe. 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 invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee supports the implementation partners' investment projects, increases their risk-bearing capacity and thereby mobilises at least €372 billion in additional investment.
About Invoier
Invoier is a leading fintech company whose mission is to empower small and medium-sized enterprises by improving their access to finance. Through its advanced web-based factoring marketplace, Invoier is redrawing the financial landscape and creating opportunities for growth and success.
Website: www.invoier.com
For further information:
Press images
Maxime Pawlowski (EIC), Fredrik Mistander (Invoier), Liisa Raasakka (EIB)
