The Spanish sustainable fashion company Ecoalf has obtained financing of four million euros through a line of factoring, thanks to the agreement with Eurofactor.
Ecoalf it will have to annually assign to Eurofactor up to 12 million euros in collection rights, with a financing limit of 4 million euros; operation in which Abante has been the intermediary. The agreement predicts that funding will expand as the fashion company advances its expansion plans.
The portal fashion.es has shared the statements of Javier Goyeneche, founder of the company: “It is a strategic agreement that will finance the rapid growth of Ecoalf”. The company may also choose to advance the collection of its invoices by assigning its credits to Eurofactor.
The pandemic has affected the fashion industry, but Ecoalf has managed to escape. Ecoalf is one of the companies that expects to close the year higher compared to 2019, with a turnover of 25 million euros, almost 80% more than the previous year, when it had a turnover of 14 million euros.