Companies category powered by

Ellinas Finance strengthens leadership in Factoring with €20m annual SME support

Ellinas Finance, the leader in alternative financing in Cyprus, has announced significant growth in its ‘Smart E-Factoring’ services, reinforcing its position as the leading independent factoring provider in the country.

With over 30 years of experience, Ellinas Finance has played a pivotal role in helping businesses across industries in Cyprus launch, develop, and expand, particularly small and medium-sized enterprises (SMEs) engaged in import and export.

As a strong supporter of the Cypriot economy, Ellinas Finance’s digital factoring business finances invoices worth approximately €20,000,000 annually. Launched in 2018, this service allows SMEs to access critical working capital, fueling local and international trade.

The company’s loan portfolio has grown from €16,000,000 in 2018 to approximately €25,000,000 today—a 33% increase over four years—with new financing in the past five years growing to €8,000,000 annually. Ellinas Finance is aiming to expand its loan portfolio to €50,000,000 by 2028, further underscoring its commitment to Cyprus’ economic growth.

“Our factoring service empowers Cypriot SMEs to expand their operations in Cyprus as well as reach new markets by providing flexible and immediate cash-flow solutions,” said Nearchos Petrides, CEO of Ellinas Finance. “In 2018, we formed a notable partnership with Atradius, one of the global leaders in credit insurance. This strategic partnership significantly enhanced our factoring offerings, making it the pinnacle of our product suite. Through this, we’ve supported many mid-sized businesses, helping them to not only survive but also sustain their productivity and growth.”

Ellinas Finance’s Smart E-Factoring service offers businesses the ability to upload customer invoices through its online portal and receive funding for those invoices within 48 hours. By embracing digital transformation, the company is also exploring artificial intelligence to improve risk assessment and credit evaluation, providing SMEs with faster, more accurate funding solutions based on their financial health.

As Ellinas Finance continues to innovate in the factoring space, the company is exploring expansion of its factoring solutions into international markets—a move that will accelerate the growth of its factoring portfolio even further through supporting businesses beyond Cyprus and bolstering global trade.

For more information on Ellinas Finance’s Factoring solutions, call 22349801 or visit www.ellinasfinance.com

Read More

Harris Kyriakides examines key legal issues facing insurance companies
TITAN Group invests in sustainable construction materials platform in the UK
Shipping Deputy Minister meets with President of the Arab Academy for Science, Technology and Maritime Transport
Cyprus-based Outfit7 announces new games, new audiences, and new Talking Tom
US delays higher tariffs but announces new rates for some nations
13th Invest Cyprus International Investment Awards almost here
Highest midday power demand of the year anticipated to have been this week, official data show
European Affairs Minister in London for working visit
Christodoulides: New natural gas discovery in EEZ reaffirms Cyprus’ energy potential
This is what Larnaca and Paphos airports will look like after completion of Phase II works (video)