Defacto, a Paris-based fintech that offers small and medium-sized businesses short-term loans by connecting them to third-party marketplaces and e-commerce platforms through its APIs, has secured $10.8 million in a Series A extension round led by Citi Ventures. Targeting the underserved SME market, Defacto collaborates with fintechs like Pennylane and Qonto to streamline processes and reduce costs for small businesses, taking advantage of traditional bankings’ move away from the same. 

Defacto Provides Short-Term Loans to SMEs. It Just Raised $10.8 million With This 20-Slide Pitch Deck.