French fintech firm Defacto has secured $187M in debt funding from Citi and Viola Credit.

 

French fintech firm Defacto has secured $187M in debt funding from Citi and Viola Credit.  The company specializes in flexible financing solutions for SMBs and startups using an API-first approach.  According to the company website, Defacto covers stock, marketing campaigns, and B2B clients' payment terms while allowing users to repay in a way that best suits their needs.  Defacto purports to streamline the lending process by doing away with tedious paperwork and allowing users to choose repayment terms with an option to repay early and pay lower fees.  The Parisian fintech has worked with over 7,000 businesses in five European countries.