Alexandros Kelaiditis, one of the founders of Flexfin, analyses the next day after the acquisition of Flexfin by Alpha Bank in order to merge it with ABC Factors in his statements to BnB Daily.
"The next day within the Alpha Bank group brings our focus on the development of factoring. We are focusing on SMEs, while ABC is the first factoring company in Greece and has a large portfolio. With the merger, our goal is to develop optimal and simplified technologies to bring a new era in factoring. We will cover a wider range of companies and serve companies that have difficulty accessing capital."
On expanding abroad, Kelaiditis does not rule it out; however, "at this stage, our first goal is to grow in Greece and Cyprus. Obviously, Alpha Bank has international activities, but at the moment our goal is different.".
THE COMPANY
Flexfin is the first fintech company in the factoring space in Greece and Cyprus, specializing in providing liquidity to small and medium-sized businesses. Based on the core principles of convenience, speed, flexibility and transparency and leveraging its innovative platform, Flexfin has established itself as a benchmark for SME financing solutions, facilitating the financing process for clients and assisting in better managing their trade receivables, including through tab automation, cash flow forecasting tools and early warning of delays.
THE STRATEGY
The strategic merger of ABC Factors, the most historic factoring company, and Flexfin ushers in a new era for existing and new customers of both companies. The significant synergies that will be created epitomize ABC Factors' commitment to providing its clients with the most modern, innovative and simplified financing solutions to meet their evolving needs.
DOUBLING THE Factoring SECTOR
The integration of Flexfin and its founders, D. Vranopoulos and A. Kelaiditis, and their founders, D.D. and A.D. Kelaiditis, to ABC Factors is expected to create the most powerful entity in the factoring sector, aiming to support, in the coming years, more than 4,500 small and medium enterprises with financing in excess of €1 billion, doubling the size of the factoring sector in Alpha Bank Group's operations.
