European Investment Fund and Fintech Firm Invoier Join Forces to Empower SMEs in Sweden

European Investment Fund and Fintech Firm Invoier Join Forces to Empower SMEs in Sweden

(IN BRIEF) The European Investment Fund (EIF) and Swedish fintech firm Invoier have entered into a significant €58 million guarantee agreement to enhance funding accessibility for small and medium-sized enterprises (SMEs) and other businesses through loans and invoice trading. Supported by the InvestEU program, this initiative addresses the challenge of SMEs, especially those with limited financial track records, in securing financing. The EIF will provide an InvestEU-backed guarantee to Invoier, allowing the company to offer favorable credit terms to its clients. Invoier, an innovative fintech firm, operates a real-time AI-driven marketplace for factoring and loans, aiming to improve financial conditions for SMEs. This partnership aligns with key policy objectives, including promoting competitiveness, sustainable growth, and digital transformation in Europe.

(PRESS RELEASE) LUXEMBOURG, 9-Oct-2023 — /EuropaWire/ —  The European Investment Fund (EIF), part of the European Investment Bank Group and established to support Europe’s micro, small and medium-sized enterprises (SMEs), a part of the EIB Group and Swedish fintech firm Invoier have inked a groundbreaking guarantee agreement worth up to €58 million, aimed at enhancing access to funding for small and medium-sized enterprises (SMEs) and other businesses through loans and factoring (commonly known as invoice trading).

This landmark agreement, supported by the InvestEU program, designed to mobilize more than €372 billion in additional investments for EU policy priorities spanning 2021-2027, signifies a pivotal step forward. Under the terms of the deal, the EIF, a constituent of the European Investment Bank (EIB) Group, will provide an InvestEU-backed guarantee to Invoier, empowering the company to extend fresh credit to its clients on favorable terms.

SMEs, particularly those still establishing a financial track record, often encounter difficulties when seeking financing. This agreement seeks to alleviate this challenge by simplifying access to funds for Swedish SMEs, enabling them to pursue expansion, innovation, and job creation. In doing so, it contributes to critical policy objectives, including fortifying Europe’s competitiveness, fostering sustainable economic growth, and supporting the digital transformation.

Invoier, the pioneering fintech firm, operates as an innovative alternative lender, offering a global, real-time, AI-driven marketplace for factoring and loans. It connects SMEs seeking short-term financing with institutional buyers. Invoier’s mission is to provide SMEs with improved financial conditions through its innovative invoice trading platform.

This collaboration between EIF and Invoier stands as a testament to their shared commitment to empowering European businesses and stimulating economic growth.

EIF Chief Executive Marjut Falkstedt said, “Responding to the challenges that SMEs in Europe are facing when it comes to growth, we are excited to announce this capped guarantee agreement with our new innovative partner Invoier. This agreement, backed by the InvestEU programme, will cover factoring and loan transactions with SMEs. Through the AI-driven marketplace that Invoier offers, Swedish businesses will have easier access to finance, helping them adopt a more sustainable footing, driving growth and improving competitiveness.”

European Commissioner for Economy Paolo Gentiloni explained, “SMEs are the backbone of the European economy. I am delighted that, with today’s agreement, InvestEU will help to provide more Swedish businesses with the finance they need to take their next steps in digitalising their operations, supporting sustainable growth and jobs.”

Fredrik Mistander, CEO and Co-founder of Invoier, said, “Invoier’s partnership with the EIF marks a transformative moment for SMEs, economic sustainability efforts and factoring in Europe. Together, we are reshaping the financial landscape, ensuring that SMEs have the resources they need to thrive and contribute to a more sustainable future.”

Background information

The EIB is the long-term lending institution of the European Union, owned by the Member States. It makes long-term finance available for sound investment to pursue EU policy goals.

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 that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.

About Invoier

Invoier is a leading fintech innovator with a mission to empower SMEs by providing them with better access to financing. Through its advanced online marketplace for factoring, Invoier is transforming the financial landscape, creating opportunities for growth and success. Website: www.invoier.com

Press contacts

European Investment Bank

Anna Charlotta Johansson | a.johansson@ext.eib.org | +46 70 356 30 32

European Commission
Flora Matthaes | flora.matthaes@ec.europa.eu | +32 229 83951

Invoier
CEO and founder, Fredrik Mistander | fredrik.mistander@invoier.com | +46 70 046 06 20

SOURCE: European Investment Fund