Alpha grows into factoring with acquisition of Flexfin, merger with ABC Factors

Alpha Bank announced on Tuesday the creation of a leading factoring company in Greece through the 100% acquisition of Flexfin and its subsequent merger with ABC Factors.

Flexfin is the first financial technology company active in the provision of factoring services in Greece and Cyprus, specializing in liquidity solutions tailored to small and medium-sized enterprises (SME). Through its innovative platform, which offers convenience, speed, flexibility and transparency, Flexfin has established itself as a benchmark for SME financing. Through its innovative transaction platform the Company simplifies the financing process for its customers, helping them better manage their receivables, through features such as ledger automation, cash flow forecasting and early warning of payment delays.

The strategic merger of ABC Factors – the most historic factoring company in Greece with extensive experience and market leadership – and Flexfin, marks the start of a new era for the sector. The significant synergies that will be created demonstrate ABC Factors’ commitment to providing Customers with modern, innovative and streamlined financing solutions that meet their evolving needs.

Facilitating SME access to liquidity is a key strategic priority for Alpha Bank. The acquisition and subsequent merger of Flexfin with ABC Factors represents a decisive step towards this goal. By focusing on SME financing – a crucial pillar of the Greek economy – the merged Company aims to make a significant contribution to enhancing SME growth, extroversion and job creation.

The integration of Flexfin and its founders Dimitris Vranopoulos and Alex Kelaiditis into ABC Factors is expected to create the strongest pillar in the factoring sector, with plans to support more than 4,500 SMEs and a financing portfolio exceeding 1 billion euros in the coming years.

Alpha group CEO Vassilios Psaltis said: “Our goal at Alpha Bank is to constantly evolve, by providing our customers with cutting-edge services and enabling progress for Greek entrepreneurs and businesses. We are delighted to welcome Flexfin and its founders, Dimitris Vranopoulos and Alex Kelaiditis, into our Group. Through the merger of ABC Factors and Flexfin, we are creating the most innovative factoring company in Greece, with the ability to offer an innovative digital service platform and to create new growth opportunities, particularly for SMEs.”

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