Omnicredit partners with Flanco Smart Discounter to support Romanian entrepreneurship development

Omnicredit, Romania’s fintech microfinance, factoring and financing certain receivables platform, announces its strategic partnership with Flanco Smart Discounter. By launching its first retail loan product, the fintech marks a milestone. The partnership aims to support start-ups and small and medium-sized entrepreneurial companies in Romania by providing access to financial solutions to overcome initial challenges and ensure sustainable growth.

There are currently around 500.000 active microenterprises in Romania, according to the quarterly report published by the National Tax Administration Agency (ANAF), and they are one of the most essential segments supporting the local economy. The first years of activity define the success of a business, and the need for quick access to financial resources is vital in acquiring the essential tools to maintain a steady pace of operational activity.

The two companies support local businesses with a flexible solution that allows them to expand rapidly. Regardless of the activity field, entrepreneurs active for at least six months access up to 50.000 RON for office technology equipment from the retailer’s portfolio through microloans in installments with a reimbursement period of up to one year.

“Entering the market for individual retail loans marks a breakthrough, motivating us to agilely respond to the needs of a wider segment of customers. Embedded finance is the operation of the future by seamlessly integrating financial services into non-financial platforms and applications, providing users with smooth and personalized experiences and transforming how they access and use financial products. We are convinced this partnership will play a key role in boosting Romania’s entrepreneurial ecosystem, providing the financial support needed for small businesses to thrive and grow. This initiative reflects our commitment to facilitating entrepreneurs’ access to the equipment they need to stabilize their market position”, states Elisa Rusu, CEO of Omnicredit.

The process is entirely simplified and fully online, requiring fewer documents, ensuring a fast, efficient, and transparent experience. Loan applications are reviewed within 3-5 hours of submission, and if approved, funds are available the same day, in line with the needs of modern entrepreneurs.

This partnership simplifies the process for customers who want to purchase products from Flanco Smart Discounter but lack the necessary funds. The customer selects the product and is then directed to the Omnicredit online platform to access the credit. The application is verified, and once approved, the credit agreement is generated. Omnicredit pays the transaction to Flanco, and the customer then repays Omnicredit for the installments.

“We understand the challenges that start-ups and small companies face in the early stages of their business, especially when purchasing the equipment needed to run their day-to-day business. Microenterprises are the pillar of our economy, and supporting them is essential to building a prosperous society. Through this partnership, we are convinced that we can actively contribute to the dynamics and resilience of the Romanian business environment. Together with Omnicredit, we aim to be a reliable partner for entrepreneurs, facilitating a favorable framework to innovation and long-term success”, added Oana Făurescu, Services Division Manager, Flanco Smart Discounter.

Lack of adequate resources can prevent the initial threshold from being crossed, significantly affecting the trajectory of growing businesses. Through the tailored financial solutions offered, Omnicredit and Flanco Smart Discounter aim to remove these barriers, providing concrete support to reach medium and long-term goals. At the same time, entrepreneurs at the beginning of their journey are motivated to reach their maximum growth potential, thus contributing to the consolidation and diversification of the local economic landscape.