Defactor to launch new Springpad program bringing alternative finance financing to underserved business communities
Dublin, Ireland — March 4th, 2022 — Defactor, a global leader in decentralised financing, today announced Springpad II, a platform that enables businesses to secure financing through the growing and available decentralized finance liquidity. It is the first project to tokenise assets for financing.
Alejandro Gutierrez, Operations Lead at Defactor, commented on the achievement:
“One of the biggest programs is Springpad—a platform enabling businesses to secure financing through a streamlined asset originator application process, allowing SMEs to the DeFi market and addressing gaps with traditional financing. We are excited to expand the program and welcome a new cohort of business builders“
Success Of Springpad I
Defactor’s Springpad I received over 50 applications from businesses across the globe, three final candidates were selected for financing on the platform.
The first company selected, Fivana, is a Latin American provider of invoice financing solutions and digital purchase orders to small businesses.
The second is Antelope DAO, a supply management solution enabling and empowering peer-to-peer transactions via a decentralised exchange – effectively removing the middlemen from financing solutions.
The third company selected for Springpad is Gortinore Distillers, an innovative beverage company pursuing a new generation of whiskey and specialty consumers.
Aidan Mehigan, Founder & CEO of Gortinore Distillers & Co. was thrilled about the selection because decentralised finance overcomes one of his major obstacles to growth: “The capital intensive that I have is for me to sell you a bottle of whiskey at X, I have to go a buy some whiskey, then find someone to put into a bottle for me and all of that is tied up capital that I’m not getting paid for 45-60/90 days so that cash flow hurdle is massive when it comes to scale because it means it kills you and you can be as profitable as you like but you have no cash. We have this big asset, we need 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 on how we finance our product?”
Springpad II Is Here
Through March 31st Defactor invites small-to-medium-sized enterprises to submit applications and join the Springpad II program. Strong use cases for DeFi include: Factoring financing, PO financing, Inventory financing, and Supply chain financing. Defactor is open to explore different asset classes and financial models that are looking for these or alternative sources of liquidity and not covered by traditional methods.
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Defactor, a global leader in decentralized finance (DeFi), helps innovative companies to access this new connected economy with confidence. As one of the first platforms to put real-world assets onto the blockchain, Defactor enables asset originators and investors to easily join and build a stronger financial future. By leveraging our integrated platform, the native $FACTR token, and a broader ecosystem, Defactor provides a seamless 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.