Factris Launches Financial Services in Latvia

Factris announced the launch of financing services uniquely suited for small and medium-sized enterprises in Latvia through its wholly-owned subsidiary, based in Riga. The Latvian market is ripe for alternative financing, and Factris has positioned itself to seize this opportunity. Momentum is growing with Factris having onboarded a number of clients after they took note of the advantages that the fintech company offers. Traditional banks cause frustration and problems for small and medium-sized businesses when they ignore or make it difficult for them to secure a working capital facility. These challenges imposed by banks have proven to give Factris an edge by allowing them to eliminate these problems by means of their innovative financial solutions and personalised services.

Kaspar Barons was named the Managing Director of the operations in Latvia. Mr. Barons has more than 10 years experience in banking and lending in the Baltics, starting his career with GE Money and then moving on to well-known Latvian finance organisations Citadele Bank, Greencredit and Monify.

Factris has also promoted Chantal Molenaar to Managing Director of the Netherlands and Paulius Jauga to Managing Director of Lithuania. Both Ms. Molenaar and Mr. Jauga have proven invaluable to the success of Factris, demonstrating both leadership skills and execution capabilities.

“I am really proud of the Factris team and what we have been able to accomplish together in a short period of time. I believe Chantal, Kaspars and Paulius represent our core values, are true professionals, and we are lucky to have them on team Factris!” said Brian Reaves, CEO of Factris.

Author: Yash Hirani

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