IMFact
Online platform for invoice factoring.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $3.9m | Seed | |
| Total Funding | 000k | ||
| USD | 2023 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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IMFact is a dynamic financial services startup based in Kenya, specializing in providing working capital solutions to small and medium-sized enterprises (SMEs). The company operates in the Kenyan market, focusing on businesses that need immediate cash flow to sustain and grow their operations. IMFact's primary service is factoring, a financial transaction where the company purchases unpaid invoices from SMEs and provides them with cash upfront. This service is particularly beneficial for businesses that typically wait 90 to 120 days for their customers to pay their invoices.
IMFact serves a diverse range of clients, primarily targeting SMEs with a minimum annual turnover of 20 million Kenyan Shillings (KSH). These businesses often face challenges in accessing traditional financing options, making IMFact's services crucial for their growth and sustainability. By offering fast, flexible, and affordable financing, IMFact enables these enterprises to purchase inventory, pay suppliers, and manage other operational expenses without the stress of delayed payments.
The business model of IMFact revolves around purchasing outstanding invoices from SMEs at a discounted rate and providing immediate cash advances. This model not only helps businesses maintain a steady cash flow but also allows IMFact to earn revenue through the discount applied to the invoices. The company conducts a thorough Know Your Customer (KYC) due diligence and credit approval process, typically completing it within seven working days. This ensures that both IMFact and its clients are protected and that the financing provided is sustainable.
IMFact's commitment to supporting Kenyan SMEs is evident through its partnerships, such as the one with Brighter Monday Kenya, where they host webinars and discussions on financing strategies. The company also focuses on addressing market failures and systemic issues that hinder access to capital, particularly for women-led SMEs.
In summary, IMFact is a crucial financial partner for Kenyan SMEs, offering innovative and accessible solutions to enhance their cash flow and support their growth.
Keywords: factoring, working capital, SMEs, Kenya, cash flow, invoice financing, flexible financing, KYC, women-led SMEs, Brighter Monday Kenya.