Norton Rose Fulbright advises ACP on investment and mezzanine financing for eFaktor S.A.

Global law firm Norton Rose Fulbright has advised AMC V SCA SICAV RAIF, part of Accession Capital Partners (ACP), on significant mezzanine financing granted to eFaktor S.A., specialist providers of factoring services for SMEs.

The investment included both equity and loan financing to support the continuing growth of eFaktor S.A. in the factoring sector.

The flexible funding package consists of a secured mezzanine loan, which supports eFaktor’s operations, and an equity investment aimed at strengthening the company's capital base and facilitating a limited buy-back of shares from the founders.

eFaktor S.A. is a factoring company that provides financing to small and medium-sized enterprises, as an alternative to bank products such as credit, loans or bank factoring. eFaktor has grown impressively since its establishment in 2015 and today finances c.PLN 1 billion of invoices annually. Its diversified customer base has been built up through its strong distribution channels leveraging brokers, partners and internal sources, while its robust risk management framework helps it to maintain a low default rate and ensure portfolio quality.

ACP has been operating in Central and Eastern Europe since 2000 through its offices in Vienna, Warsaw, Bucharest, Budapest and Prague. To date, the group has raised commitments of more than €1.1 billion in five dedicated growth capital funds. The funds are backed by reputable institutional investors, including the European Investment Fund, the International Finance Corporation, the European Bank for Reconstruction and Development, and a number of banks, funds of funds, pension funds and insurance companies from Europe, the US and Asia.

The Norton Rose Fulbright banking and finance team was led by counsel Jacek Smardzewski and included associates Karolina Lepakiewicz and Michał Rutkowski, as well as lawyer Dominika Wojtkowska. Legal consultant Piotr Milczarek, and associates Jan Nowjalis and Damian Pawlak advised on the corporate, antitrust and M&A stream of the transaction under the lead of counsel Artur Jończyk.

Additionally, Małgorzata Patocka (counsel), Joanna Braciszewska-Szarapa (counsel), Magdalena Olechniewicz-Blocher (associate), Jan Nowjalis (associate), and Damian Pawlak (associate) contributed to the preparation of the due diligence report, with coordination by Agnieszka Braciszewska (partner) and Piotr Strawa (senior consultant).

The team worked under the supervision of Grzegorz Dyczkowski, who heads the Warsaw office and the banking and finance practice and the corporate team was supervised by partner Agnieszka Braciszewska who leads the firm’s Warsaw corporate team practice.