FAQ
Get the answers to the most frequently asked questions to help you navigate and understand our services better. If you can’t find the information you’re searching for, please don’t hesitate to reach out to our support team.
1. What is invoice factoring at OPTO?
Invoice factoring is selling some or all your outstanding invoices to a third party through OPTO – who pays you a 100% of the invoice which is then collected from your customers when it is due. Companies can therefore use invoice factoring to speed up their cash flow and unlock working capital.
2. How does it all work?
Step 1: Sign up for our platform
Step 2: Complete video identification and we open an account for you
Step 3: Receive your assigned IBAN to add on all the invoices you want to factor
Step 4: Start factoring
Step 5: Upload and submit an existing invoice which you want to factor in your OPTO interface, along with the IBAN you received from us
Step 6: We provide the discounting fee for your approval
Step 7: You receive the money within 48 hours. A confirmation email is then sent to you.
3. What kind of invoices can I factor with OPTO?
You can send us any invoice pertaining to any service you have provided to your clients. The invoice needs to have a minimum amount of 200 Euros and 8-day payment term.
4. What are “debtors”?
A debtor is another name for your client — it is essentially the ultimate payer of the invoice.