Setting up a business or expanding an existing one can turn into a mountain of paperwork and rejections for financing credit for freelancers. Many times, traditional banks demand strict requirements that become a nightmare for entrepreneurs or small business owners. In addition, the time it takes to complete the process works against businesses that are fighting against the clock to obtain certain benefits that help them pay off debt. In 2021, Kintai entered the market to try to relieve pressure and streamline credit processing for SMEs and freelancers. Thanks to its innovative technology — which categorizes them as one of the most promising fintechs in Catalonia — it offers working capital financing solutions for companies and freelancers through the anticipation of invoices, promissory notes, and other collection rights.
Kintai was born in Barcelona at the hands of Victor Ruiz and Ignasi de Llorens. Since they opened their digital doors, they have financed more than five hundred companies, with more than 150 million euros injected directly into real businesses and 150,000 euros in invoices anticipated and collected before their due date. In other words, for five years they have managed to stand by companies, listen to their needs, and manage tailor-made credit. "We believe in a world where companies have access to the financing they need to grow. Our mission is to be a strategic partner that transforms financial challenges into growth opportunities," the company states.
The operation of the Barcelona fintech platform is quite simple. In this sense, it allows clients to convert pending income into immediate liquidity, without having to wait for due dates. With this, companies can have resources to face daily expenses, pay suppliers, cover payrolls, or undertake new projects. In other words, Kintai is the partner that trusts the project, sees a way out, and believes there will be a benefit in the future. In parallel, the company also finances contracts with future collections and client portfolios, both from the public and private sectors. "If there is a pending collection, we study it and convert it into cash, from the most standard cases to those that break the mold," they say.
One of the differentiating elements of their model is the flexibility when it comes to adapting financing to the needs of each business. Procedures with the bank can be eternal, as the accreditation and validity of a self-employed person before a bank is not a bed of roses. Bureaucracy and requirements mean that many people give up halfway or do not receive the money as quickly as they expect. Kintai assures that it can respond to applications within 24 to 48 hours and offers operations of up to five million euros, without the need for personal guarantees or appearing in CIRBE (Central Information of Risks of the Bank of Spain), a public database that collects loans, credits, guarantees and other financial risks that entities have registered in the name of individuals and companies. In addition, on the same website they state that they have approved 80% of the applications they have received.
Kintai seeks to help SMEs, but also to implement a change of model in the way financing moves. For this reason, it has a collaboration program aimed at different professional profiles who can use its technology for clients. Among its partners are business advisors, professional firms and agencies, financial intermediaries, investment funds and other fintech companies and banking entities. Through these alliances, the company expands its distribution network and allows collaborators to offer liquidity alternatives to their clients. The program includes a commission system for each formalized operation and a digital platform that allows tracking applications in real time, from the initial analysis to the signing and disbursement.
Born not to fit in
The Barcelona-based company states that its birth arose from the need to help SMEs and freelancers. For them, innovation is also linked to access to credit and the possibility of financing large projects. "We are dedicated to being a strategic ally, helping our clients overcome their cash flow pressures and maintain their stability," the company emphasizes. With 45 employees and five years of existence, it has managed to position itself at the forefront of fintechs dedicated to working capital. Its tailor-made solutions provide flexibility and freedom to businesses, and its management capacity and agility make it key when considering how and where to find financing: "We want to be your solid and secure partner," concludes De Llorens, co-founder.