Ashurst has advised Defacto, the leading French provider of instant financing for SMEs, on the scaling of its securitization fund to €300 million, financed by Citi and Viola Credit. This strategic transaction enables Defacto to increase its annual funding capacity to €1.8 billion, further strengthening its position as a key partner for European SMEs seeking flexible and digitalized financing solutions.
Founded in 2021 by Jordane Giuly, Morgan O'hana, and Marc-Henri Gires, Defacto has established itself as a major player in B2B financing through its API-first platform, which allows e-invoicing tools, accounting software, B2B marketplaces, and other digital platforms to directly integrate Defacto's financing solution. This innovative approach has already attracted around twenty major partners, including Malt, Qonto, and Pennylane, and has enabled Defacto to meet the financing needs of 14,000 European businesses for nearly one billion euros.
The expansion of the securitization fund is part of Defacto's strategy to optimize its refinancing and strengthen its resilience, notably through the obtaining of its banking license and the rise of asset-backed private credit. This new financing, structured with Citi as senior lender and Viola Credit as mezzanine lender, will allow Defacto to continue its exponential growth, improve its liquidity conditions, and optimize its unit economics, while further digitalizing and streamlining access to credit for SMEs.
The Ashurst team was led by Agathe Motte (partner), assisted by Aurélien Fournier (counsel), in structured finance.
