Collector launches new digital business product – Reverse Factoring

Gothenburg, Sweden – Collector AB (publ.) (NASDAQ Stockholm: COLL). Collector continues to focus heavily on the digitisation of business products and is launching Reverse Factoring, a new online service that helps improve companies’ cash flow and strengthen their business relationships.

The benefits of the product, in addition to the simplicity of applying for the service and using it digitally, is that suppliers can receive payment directly, which may permit cash rebates for e-retailers, for example, and other enterprises with large-scale purchasing. The product also gives businesses the opportunity to extend payment periods. Other advantages are that it ensures that supplier invoices are paid on time while businesses maintain control of their own credit periods. 

“We are proud to present a new digital product for the business market where there is less pressure for exciting new digital solutions to ease businesses’ day-to-day operations.” Says Stefan Alexandersson, CEO Collector 

For further information, please contact:
Stefan Alexandersson, CEO I Phone +46 70-607 38 87 I Mail stefan.alexandersson@collectorbank.se 
Åsa Hillsten, CCO & IR I Phone +46 70-081 81 17 I Mail asa.hillsten@collectorbank.se 

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About Us

Collector is a leading digital niche bank that develops financial solutions for private and corporate customers. For the private market, we offer savings and loans, invoicing and installment, credit card services and financial apps. The corporate segment encompasses payment solutions for e-commerce and retail, factoring and corporate lending, real estate credits and assignment debt collection. With an annual organic revenue growth of 30 % since 2005, we have the persistence, courage and experience required to believe in ideas and help get them off the ground. The Group consists of the parent company Collector AB (publ), the wholly owned subsidiary Collector Bank AB, where the main operations are conducted, Colligent Inkasso AB and Colligent Inkasso AS, offering assignment operations and debt collection, and Collector Ventures, which invests in FinTech. The company has offices in Gothenburg (head office), Stockholm, Helsinki and Oslo. Collector is listed on Nasdaq Stockholm.

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Quotes

We are proud to present a new digital product for the business market where there is less pressure for exciting new digital solutions to ease businesses’ day-to-day operations.
Stefan Alexandersson, CEO Collector