Blockchain-based invoice factoring platform Hiveterminal announced that it has expanded to the DACH region as part of its Europe growth plans.

Hiveterminal aims to start cultivating relationships with Swiss-based small and medium-sized enterprises (SMEs) who need fast and continuous access to liquidity without going through the hassle of applying for bank financing.

The offered solution has reportedly already been adopted by more than 4,000 registered business users in the initial market.

The Hiveterminal platform can also be used for closed ecosystems or white-labeled on a Software as a Service (SaaS) basis in its Enterprise edition, which was recently launched. The solution is also available to companies within the DACH market now.

This news comes less than two weeks after the firm announced that Swiss-based Bonart Mati will be taking over as Hiveterminal’s CEO.

Hiveterminal said that it is making a move towards the EU invoice financing market worth EUR 1.8 trillion. After receiving an investment from a Swiss VC investor and now expanding its staff in the region, the company aims to expnad its footprint.

“We are happy to announce that Hiveterminal has moved its headquarters to Switzerland’s “Crypto Valley” Zug, the European blockchain hub. There, we will be operating under the legal entity Hiveterminal AG.”

Bonart Mati, CEO of Hiveterminal said,

“Invoice factoring as a financing option is not well developed in Switzerland simply because there is a need for an easier and more user-friendly solution within this space. We aim to take advantage of this fact and make invoice factoring respectable in CH and the rest of Europe — also by using blockchain technology.”