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 an innovative, digital, niche bank that offers financing solutions to private and corporate customers. Operations are comprised of the Retail and Corporate segments. Within the Retail segment, the company is engaged in lending to private individuals, invoice and payments by instalments to e-commerce and retail companies, credit card services and deposits. The Corporate segment includes real estate credits, factoring and company credits directed mainly at small and medium-sized enterprises, debt collection on behalf of customers (assignment debt collection) and the acquisition of portfolios of overdue receivables. The company has offices in Gothenburg (head office), Stockholm, Helsinki and Oslo. The Group consists of the parent company Collector AB (publ), wholly owned subsidiary Collector Bank AB, where the main business is conducted, Colligent Inkasso AB and Colligent Norge AS with business services and debt collection and Collector Ventures 1 KB with investments in Fintech. Collector AB (publ) 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