Omnicredit, a Romanian fintech microfinance, factoring and specific accounts receivable financing platform, announced a strategic partnership with Flanco Smart Discounter. The launch of its first personal loan product marks a milestone for the fintech. The partnership aims to support Romanian startups and small and medium-sized entrepreneurs by providing them access to financial solutions to overcome early challenges and ensure sustainable growth.
There are currently around 500,000 small businesses operating in Romania. Quarterly Reporting Financial statements issued by the National Tax Agency (ANAF) are one of the most important segments that support the local economy. The success of a business is determined in the first few years, and quick access to financial sources is essential to acquire the tools necessary to maintain a steady pace of business activity.
Both companies support local businesses with flexible solutions that allow them to expand rapidly: entrepreneurs active for at least six months, regardless of their field of activity, can access up to RON 50,000 to purchase office technology equipment from the retailer’s portfolio through microloans paid in installments with a repayment period of up to one year.
“Our entry into the personal loan market is a breakthrough and motivates us to be more agile and responsive to the needs of a wider customer base. Embedded finance is the future of operations, seamlessly integrating financial services into non-financial platforms and applications, providing users with a frictionless and personalized experience and transforming how financial products are accessed and used. We are convinced that this partnership will play a key role in promoting the entrepreneurial ecosystem in Romania and providing small and medium-sized enterprises with the financial support they need to thrive and grow. This initiative reflects our commitment to giving entrepreneurs access to the equipment they need to stabilize their market position.”said CEO Elisa Russ. OmniCredit.
The process is completely streamlined and conducted entirely online, requiring less documentation and ensuring a fast, efficient, and transparent experience. Loan applications are reviewed within 3-5 hours of submission, and if approved, funds are provided same-day, in keeping with the needs of the modern entrepreneur.
The partnership simplifies the process for customers who want to buy products from Flanco Smart Discounter but don’t have the necessary funds. Customers select the product and are directed to the Omnicredit online platform to avail credit. The application is verified and, if approved, a credit agreement is generated. Omnicredit pays Flanco for the transaction and the customer repays the installments to Omnicredit.
“We understand the challenges that start-ups and SMEs face in the early stages of their business, especially when purchasing the equipment they need for their daily operations. Small businesses are the pillars of our economy and supporting them is essential to building a prosperous society. We are convinced that through this partnership we can contribute positively to the dynamics and resilience of Romania’s business environment. Together with Omnicredit, we aim to be a reliable partner for entrepreneurs and foster a framework favorable to innovation and long-term success.”Oana Falescu, Services Division Manager, added: Franco Smart Discounter.
Lack of sufficient resources can prevent the first thresholds from being crossed, severely impacting the trajectory of a growing business. By offering customized financial solutions, Omnicredit and Flanco Smart Discounter aim to remove these barriers and provide concrete support to achieve medium and long-term goals. At the same time, entrepreneurs are motivated at the beginning of their journey to reach their maximum growth potential, thereby contributing to the strengthening and diversification of the region’s economic landscape.
