Faktoro alternative financiers tripled during the year and recorded historical growth of factoring volumes

  • In 2021, Faktoro financed more corporate accounts than in the five previous years
  • Faktoro’s assets and profits almost tripled


UAB Taurus fondas, one of the largest alternative non-bank business financiers in Lithuania, which operates under the Faktoro brand, almost tripled the assets under its management from EU 9.3 million to EUR 25 million in 2021. The amount on accounts of companies financed through factoring increased by EUR 73 million and reached EUR 142 million in 2021, i.e. more than twice as many as in all five previous years since the company was founded in 2016 put together.

In 2021, Faktoro’s overall loan and factoring portfolio more than doubled from EUR 7 million to EUR 16.5 million. The company’s profit almost tripled from EUR 225,000 in 2020 to EUR 645,000 in 2021.

According to Algirdas Gutauskas, co-founder and CEO of Faktoro, 2021 can be considered a turning point both in the company’s operations and in the market in general, when it was clearly felt that businesses seeking financing were already equating alternative investors with banks.

“Small and medium-sized enterprises know and fully trust services provided by alternative financiers, and we are already receiving inquiries from larger companies. In the past, we were valued for our speed and flexibility, and the situation was further improved by sharply decreased interest rates in the market and the narrowing differences between interest rates of banks and alternative financiers,” says Gutauskas.

Strengthening operations in the Baltic States, Poland and Finland

Encouraged by successful business growth, Faktoro intends to strengthen its position in the Baltic and Finnish markets in 2022 and also looks at other Western European markets. “This year, we plan to increase our loan portfolio by another EUR 20 million, allocating 80% of which to loans secured by assets and 20% to unsecured loans for micro-enterprises with up to 10 employees. We plan to increase the factoring portfolio by more than 50% and to have up to EUR 20 million by the end of this year,” says Gutauskas.

According to the CEO of Faktoro, the company will pay greater attention to joint projects with e-commerce platforms. “We will improve the market place product for e-commerce platforms to make it even more convenient to use, and we will offer it to sellers operating on the Pigu.lt platform in Finland,” says Gutauskas.

According to the CEO of Faktoro, expansion into the new markets is also supported by the funds investing in the start-up. “The new countries open up opportunities to diversify activities and reduce business risks,” says Gutauskas.

About Faktoro 

Faktoro has been operating in the non-banking factoring market since 2016. It is one of the pioneers of non-banking factoring and the largest non-banking financier in Lithuania, providing exceptional specialised business financing services to small and medium-sized enterprises in the Baltic States, Finland and Poland.