COBALT advised UAB Debitum Fori, an invoice finance company in Lithuania, which operates under the brand name Debifo, in its merger with the Dutch factoring company Factris. By this transaction, whose value is not revealed, Factris acquired 100 percent shareholding in Debifo.
This acquisition was financed by one of the largest fintech venture capital funds in Europe Speedinvest and by the investment company Optima Investments.
In December 2018, Factris signed a 100 million Euro credit line agreement with Swiss investment company Ruvercap. These funds will be used to finance the working capital of European small and medium-sized businesses (SMEs).
The Dutch factoring company Factris focuses on simplifying the business finance process, ensures the stability and reliability of funding and continuously expands its partner network in Europe.
The Lithuania-based company Debifo has been providing smart working capital solutions for small and medium-sized businesses since 2015.
COBALT provided legal assistance to the client on all matters related to the transaction. The project was led by COBALT Partner Dr Juozas Rimas, Partner at COBALT, the team also included Partner Rokas Daugėla and Associate Lawyer Justinas Kondratas.