Defacto closes $167 million securitization fund

Defacto closes $167 million securitization fund

Source: Defacto

Defacto, the French lender to SME by API, closed a securitization fund with Citi and Viola Credit for up to €167m.

Citi will be the senior lender of the fund while Viola Credit has renewed its trust in Defacto by continuing its support as a mezzanine lender of the fund. This new facility allows Defacto to continue its exponential growth with a yearly funding capacity of up to 1 billion euros.

Founded mid-2021 by Jordane Giuly, Morgan O’hana, and Marc Henri Gires, Defacto provides seamless, flexible and instant financing to small and medium enterprises (SMEs) in Europe.

Defacto provides its loans to SMEs via an embedded approach. Defacto’s API-first product enables third parties such as B2B marketplaces, fintechs and other digital platforms to embed Defacto’s financing solution directly in their own products. As a result, SMEs can benefit from a seamless and instant lending experience, while platforms increase their differentiation and customer satisfaction.

Over the last 18 months,