Alpha Bank Expands in Greece with Acquisition and Merger in Factoring Sector

Athens, January 28, 2025 — In a strategic move set to reshape the financial landscape for small and medium-sized enterprises (SMEs) in Greece, Alpha Bank has announced the acquisition of 100% of Flexfin, a pioneering financial technology company, followed by its merger with ABC Factors.

This newly formed entity is expected to become a dominant player in the Greek factoring market.

Flexfin is renowned for being the first fintech company to offer factoring services in Greece and Cyprus. It specializes in providing liquidity solutions tailored to SMEs, utilizing an innovative platform that ensures the financing process is convenient, fast, flexible, and transparent. Key features of the platform include ledger automation, cash flow forecasting, and early warnings of payment delays, setting a new standard in SME financing.

ABC Factors, the most historic factoring company in Greece, brings extensive experience and market leadership to the merger. This union is anticipated to create a powerhouse in the sector, reinforcing ABC Factors’ commitment to modernizing financing solutions to meet the changing needs of businesses.

The acquisition and merger align with Alpha Bank’s strategic goal to enhance SME access to liquidity, recognizing it as a critical pillar of the Greek economy. By focusing on SME financing, the newly merged company aims to drive growth, foster international engagement, and stimulate job creation within the subset of small businesses.

With Flexfin’s integration, including its founders Dimitris Vranopoulos and Alex Kelaiditis, ABC Factors is positioned to support over 4,500 SMEs and manage a financing portfolio exceeding 1 billion euros in the coming years.

Vassilios Psaltis, CEO of Alpha Group, commented, “Our mission at Alpha Bank is to evolve continuously by offering cutting-edge services that empower Greek entrepreneurs and businesses. We are excited to welcome Flexfin and its founders into our group. The merger with ABC Factors allows us to establish Greece’s most innovative factoring company, ready to deliver innovative digital services and create new growth opportunities, particularly for SMEs.”

This strategic maneuver highlights Alpha Bank’s vision and adaptability in the rapidly evolving financial services industry, promising a more vibrant and accessible credit market for Greek SMEs.