EBRD Promotes Innovative Financing for Polish SMEs
The European Bank for Reconstruction and Development said it is promoting the competitiveness and resilience of small and medium-sized enterprises (SMEs) in Poland by supporting the operations of leading independent factoring company PragmaGO.
The loan of EUR 5 million is the first transaction in Poland under the bank's Digital Approach, designed to introduce innovative digital solutions for businesses.
It will help PragmaGO offer its cost-efficient financing tools to a greater number of Polish SMEs, regardless of their size or location, the EBRD said.
Compared with traditional factoring, PragmaGO's online invoice-based financing solutions and purchase financing options are particularly valuable to smaller businesses facing challenges in accessing funding.
PragmaGO is a well-established player in the Polish market, with more than 25 years of experience. It is owned by Enterprise Investors, one of Central and Eastern Europe's (CEE) largest private equity firms.
It offers user-friendly digital solutions designed to help SMEs manage their liquidity more efficiently.
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