Alpha Bank announced the acquisition of 100% of Flexfin, with the aim of merging it with ABC Factors.

Alpha Bank Group CEO Mr. Vassilis Psaltis noted: "Our goal at Alpha Bank is to continuously evolve, providing the most modern services to our clients and supporting the progress of Greek entrepreneurship. It is with great satisfaction that we welcome Flexfin and its two founders, Dimitris Vranopoulos and Alexandros Kelaiditis, to our group. With the merger of ABC Factors and Flexfin, we are creating the most innovative factoring company in Greece, offering a modern digital service platform and providing new growth opportunities, especially for small and medium-sized enterprises.".

According to Alpha Bank, this merger creates significant synergies that enhance the ability of the new, single company to meet the modern needs of SMEs, providing the most innovative and efficient solutions. It is estimated that in the medium term, more than 4,500 small and medium-sized enterprises will be supported with financing solutions exceeding EUR 1 billion, thus doubling the footprint of factoring in Alpha Bank Group's operations.

"Flexfin, as the first fintech company in factoring in Greece and Cyprus, has excelled in providing liquidity to small and medium enterprises (SMEs), leveraging its advanced digital platform. It has become a benchmark in the market while offering a unique experience to its customers with fast disbursements and technologically advanced tools to manage their trade receivables," it noted.