April 9 (SeeNews) - Romanian online microfinancing start-up Instant Factoring said on Tuesday it has named Adina China-Birta as its country manager, in a move aimed at strengthening the company's management team.
Adina China-Birta has more than 20 years of experience in the financial and banking industry, Instant Factoring said in a press release.
"We are pleased to bring along us a great professional in the financial and factoring services industry such as Adina China-Birta. Adina's role will be decisive in achieving ambitious growth goals in Romania such as the launch of new adjacent financing products dedicated to micro-enterprises and the development of Instant Factoring Romania as an operational basis for expansion to other countries," Instant Factoring CEO and co-founder Cristian Ionescu said.
Ionescu was named CEO and president of the company in February, with the aim of supporting an ambitious expansion plan for this year.
"I'm glad to be part of a fintech company that addresses needs of small businesses that traditionally have limited access to finance, which offers innovative financial products and services focused on the needs of entrepreneurs, using state-of-the-art technologies. It takes an increase of digitization and automation in all financial services for turning small and medium-sized businesses into an engine for accelerated economic growth," Adina China-Birta said.
Instant Factory announced in January that it plans to expand to Croatia and other new markets in Central and Eastern Europe this year, aiming to become a regional leader. The company plans to hit operational break-even in the first half of 2019, it said at the time.
In October, Instant Factoring received 1.5 million euro ($1.7 million) financing from a United States-based investment fund.
Instant Factoring is a fintech online micro-factoring company in Romania dedicated to small companies and micro-enterprises. It facilitates the development of small businesses, providing them with flexible and innovative financing solutions by converting invoiced bills into cash.
($=0.8899 euro)