Vilnius Factoring Company changes its name to PayRay

Vilnius Factoring Company, which provides services to small and medium-sized businesses, has changed its name to become PayRay. This move reflects the company’s strategic goals for the development of both its services and its area of operations. “More than a year ago, we started our activities in Lithuania and established ourselves as a factoring company. […]

Juncker Plan: Vilnius Factoring Company to issue EUR 10m in new microloans with EIF support

Vilnius Factoring Company, a private lending company in Lithuania, has signed a cooperation agreement with the European Investment Fund (EIF) to issue microloans of up to EUR 25,000. Micro-enterprises and farmers in Lithuania can now benefit from non-banking business funding opportunities under the EU Programme for Employment and Social Innovation (EaSI). The company is issuing […]

The value of financed invoices by Vilnius Factoring Company increased by 73 percent in Q1 of 2019

Vilnius Factoring Company, which offers services for small and medium-sized enterprises, financed invoices for 30.6 m euros and increased its factoring portfolio by 6.4 m euros in the first three months of 2019. The growth is attributed to increasing demand for financing instruments and the reaction of Lithuanian businesses to international economic situation. In the […]

Last year Vilnius Factoring Company financed accounts for 17.6 million euro

In the first half of the year, the new Lithuanian financial market company Vilnius Factoring Company raised the factoring portfolio to 11.3 million euro and forecasts its further growth. Founded last year, the company financed accounts for 17.6 million euro by the end of the year. 47 companies used the services of the company, more […]