English
Compania de Factoring, established in 2006, has increased share capital by 2.5 million EUR to 4.5 million EUR to sustain the development plan slated for this year," CEO Valentin Chirca told NewsIn. The additional capital came from the two lead shareholders, Bank Austria and Banca Transilvania. A better IT system and personnel training will be the focus of the development plan.
"We have already spent some 100,000 EUR on the IT platform this year and we are planning to allocate another 200,00 EUR for the rest of the year in order to optimize response time. We also plan to borrow some 15 million EUR in March in order to finance the expansion of our core business, which is factoring," Chirca said.
He explained that, for starters, the company was planning to increase an existing credit line by 5 million EUR and to contract a new 4 million EUR loan. Compania de Factoring IFN is a member of Factors Chain International. It was established in 2006 by Bank Viena and Banca Transilvania.
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