New loan originator – Flexidea Polska – is here!
New Year has started. Everyone who is active in business has forged plans at least for the year. New strategies are developed, and promising tactics already started to apply.
“We have stepped into 2023 with many great learnings from the previous year about what’s important for the business and for our investors. Based on those lessons we have built the roadmap for 2023 and I’m confident this year will bring great results for us and the community around Debitum. Continuous and significant improvement of customer service, bringing new products to market, and offering more attractive investment options for investors, are Debitum cornerstones for plans to become true,” reveals Debitum CEO Henrijs Jansons.
And first milestone in this year’s roadmap is already launched.
Starting from February new Loan Originator – company Flexidea Polska – with a great offer to investors is available. Currently, there are two Flexidea Polska ABS programs with 3-and 6-month periods and interest rates 11% and 11.25% p.a. available.
Flexidea, the mother company of Flexidea Polsa in Latvia operates since 2018 and is well known to Debitum investors. On Debitum more than 20.3 mln euros have been invested in Flexidea Latvia assets.
Flexidea follows its growth plans. Emerging in Poland
“If we look back, the year 2022 was a great milestone for Flexidea. We signed the credit line with the US fund that provided us with a 5 mln euros credit line. In July as the new institutional investor Helenos Impact Fund (Belgium) joined Flexidea as a shareholder, we received a new equity injection which is used to launch Flexidea in new countries. Our plan is to open several new markets in CEE and in 2022 we started implementing our plan.
In May registered company Flexidea Polska in Warsaw and only a few months later – in July 2022 first invoices from Polish SME were financed,” Sergei Demchuk, a member of the board at Flexidea Polska is highlighting key success milestones in current business development events.
Poland with a population of 37 mln people is the biggest economy in CEE and a very attractive market for factoring services (8th largest factoring market in Europe). Since Flexidea Polska launch in mid-2022 over 400 invoices for 12 mln Polish zloty (2.5 mln euros) have been financed. With 25 active clients at the end of 2022, the portfolio size has reached 4,5 mln zloty. All financed invoices are repaid in time or within the grace period and no default happened.
“The profile of our clients in Poland will remain generally the same as it is for Flexidea Latvia. We will service SMEs and micro-companies that do not meet the requirements of the banks due to their small size or the small financing amount required. These companies are not attractive to banks but very interesting Flexidea Polska. We service companies who match our risk assessment filters, like – 1) they are AML compliant, 2) their annual turnover is up to 1 mln euros and number of employees variates around 20, 3) these companies invoice established enterprises with high credit-rating and with low debtor default risk. Following these golden rules, we expect to grow fast and in the year 2023, Flexidea Polska aims to reach a portfolio of over 4 mln euros. For that, we need strong partners that can provide funding. And here Debitum steps into our business lifecycle. This year we expect to attract approximately 2 mln euros via Debitum platform,” Sergei Demchuk is ready to share future plans.
Great news for investors
As Flexidea Polska due diligence and onboarding process is successfully finished and approval from Regulator is received, the first ABS programs for approx 600 000 euros as new investment opportunities in Debitum are available. Flexidea Polska for those investment assets offers a very attractive rate of return – starting from 11% p.a.
“The year 2023 is just started but to make big plans true we invite everyone not to postpone success for later. Create your winning milestones already today – one by one,” Debitum CEO Henrijs Jansons.