2/13/2023 0 Comments Ifactor memberToday, the boat dock is located where historic steamships departed to sail on Lakes Joseph, Rosseau, and Muskoka. The CNIB Lake Joe property was originally on an old Canadian National Railway/Steamship line. We are grateful for the opportunity to meet here and we thank all the generations of people who have taken care of this land for thousands of years. Other Indigenous Nations have come to occupy this land such as the Haudenosaunee (Ho-deh-no-show-nee) and the Metis Nation. The Anishinabek still regard these lands as the hunting grounds, medicine areas, and gathering places, related to them through oral history passed down for generations. These new products will further grow the company’s versatility, allowing them to both create a new alternative financing market for SMEs and giving the ability aid legacy financial institutions such as banks to better serve SMEs.CNIB Lake Joe Year in Review 2021-22 - ua.pdfĬNIB Lake Joe is on land which is the traditional territory of the Anishinaabek (Ojibwe, Pottowattami, and Odawa) people. It is currently developing both its existing and new products such as iFactor Pure Analytics (credit risk scoring based on alternative data), iFactor Advanced KYC (blockchain-based KYC) and iFactor Setl (an optimized payment and disbursement engine based on Open Banking and PSD2 licences). The company operates on the Romanian market and aims to extend its operations into the UK in 2021. IFactor is a startup founded in 2016 that specializes in digital SME financing solutions. The fundraising strategy has been designed to attract multiple types of parties such as early-stage institutional supporters, (Roca X & Smart Impact Capital) business angels and strategic partners. In the coming months iFactor aims to accelerate its traction on the Romanian market and to become a relevant player while also having a viable factoring and loan product on the UK market. Through its business model iFactor brings the next step in its market it shifts SME financing that has thus far revolved around the banking sector towards a digital entrepreneur-centric model that stimulates growth. IFactor is the first European company to use a hybrid business financing model, it has been granted permission from the National Bank of Romania to include private investors in the business circuit, thus enabling them to easily invest in SMEs. With the launch of iFactor entrepreneurs and SME’s will have a more reliable, cost-efficient and nimble way to access liquidity, allowing them to have a swifter path to growth in line with the ever-growing demands of the market. Our partnership is a win-win deal that will in turn contribute to a more flexible and sustainable business ecosystem” stated Matei Dumitrescu, Senior Investment Partner Roca X. Secondly it is the first Romanian company that targets the alternative funding market that can actively aid the distress area, giving us faith that the product will witness rapid adoption and quick European scaling. ‘’iFactor marks a number premieres on the Romanian market, firstly the company has garnered strong support from both domestic and foreign investors and has proved that it is a viable but more importantly a necessary product. Impetum Group’s vast experience in multiple areas, and particularly in the business distress area (through CITR and ROCA Investments) will aid us not only in overcoming the obstacles that we’ll undoubtedly encounter as an emerging fintech but more importantly in shaping the iFactor product as the go-to option for SME financing” Cosmin Curticapean iFactor CEO & co-founder said. ‘’I have chosen Roca X as a main partner due to the synergies that our product has with Impetum Group’s existing brands and business lines, additionally we share a common vision which represents an important asset that fuels our drive towards our final goals. The company has multiple products in development and is currently focusing on optimizing and strengthening its current offering. iFactor plans to heavily scale-up its operations in the next two years, starting from Romania, its expansion plans target markets such as the UK, Germany, Austria and Switzerland. The amounts raised will support the company in developing its services, as it aims to offer European private investors access to a new class of investment assets. – iFactor, an innovative fintech that aims to democratize SME lending receives its seed funding in a round led by ROCA X and becomes the first Romanian startup to be listed on the London-based equity crowdfunding platform Seedrs.
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