Finance services

Defactor is the first to offer DeFi funding services to sectors with limited banking services

Defactor to Launch New Springpad Program Bringing Alternative Financing to Underserved Business Communities

DUBLIN, IRELAND/ACCESSWIRE/March 4, 2022/ Defactor, a global leader in decentralized finance, today announced Springpad II, a platform that enables companies to obtain funding through the growing and available liquidity of decentralized finance. This is the first project to tokenize assets for funding.

Alejandro Gutierrez, Operations Manager at Defactor, commented on the achievement:

“One of the most important programs is Springpad, a platform for companies to obtain funding through a simplified asset originator application process, allowing SMEs to access the DeFi market and fill gaps with traditional financing. We are excited to expand the program and welcome a new cohort of business builders.”

Springpad I Success

Defactor’s Springpad received over 50 applications from companies around the world, three final applicants were selected for funding on the platform.

The first company selected, Fivana, is a Latin American provider of digital invoice and purchase order financing solutions for small businesses.

The second is Antelope DAO, a supply management solution enabling and authorizing peer-to-peer transactions via a decentralized exchange – effectively eliminating middlemen from financing solutions.

The third company selected for Springpad is Gortinore Distillers, an innovative beverage company seeking a new generation of whiskey and specialty drinkers.

Aidan Mehigan, Founder and CEO of Gortinore Distillers & Co. was thrilled with the selection because decentralized finance overcomes one of its biggest barriers to growth: “The capital intensity I have is for me to sell you a bottle of whiskey at X I have to go and buy some whiskey then find someone to put in a bottle for me and all of that is tied up capital that I don’t get for 45-60/90 days so the cash flow hurdle is huge when it comes to scale because it means it’s killing you and you can be as profitable as you want but you don’t have money We have this big asset we have to find a way to lend against it, we innovate how we finish our whiskey, we innovate how we live our lives so why wouldn’t we innovate how we finance our product?”

Springpad II is here

Until March 31, Defactor invites small and medium-sized businesses to submit applications and join the Springpad II program. Strong use cases for DeFi include: factoring financing, purchase order financing, inventory financing, and supply chain financing. DeFi-ready use cases include: factoring finance, purchase order finance, inventory finance, and supply chain finance. Defactor is open to exploring different asset classes and financial models that seek these or other sources of liquidity and not covered by traditional methods.

the applications are open.

For press inquiries, please contact [email protected]

About Defactor

Defactor, world leader in decentralized finance (DeFi), helps innovative companies to access this new connected economy with peace of mind. As one of the first platforms to put real-world assets on the blockchain, Defactor makes it easy for asset creators and investors to join and build a stronger financial future. By leveraging our integrated platform, native $FACTR token, and broader ecosystem, Defactor provides a transparent and secure process that supports the ambitions of our clients, investors, and communities. For more information, please visit Defactor.com or follow us on Twitter| LinkedIn | Discord.

THE SOURCE: Defactor

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https://www.accesswire.com/691602/Defactor-Is-First-To-Bring-DeFi-Finance-Services-To-Sectors-With-Limited-Banking