Fibus’ Managing Director answers the following questions:
- How does receivables financing support the growth of international mid-cap companies?
- Why has it become a key tool to secure their operations in a deteriorating economic environment?
- How does ARI Trade, Fibus’ digital platform, help optimise factoring and credit insurance programmes?
IN-DEPTH INTERVIEW – Fibus: 5 questions to Thibaut Robet
Interview transcript
Thomas Hugues: Welcome to FIBUS and its CEO Thibaut Robet on Le Grand Entretien. Good morning!
Thibaut Robet: Good morning Thomas!
T.H.: A pleasure to have you with us. Tell us about FIBUS. How long has it been around? What exactly is FIBUS?
T.R.: FIBUS is a receivables financing brokerage firm. Our role is to help corporates and international mid-cap companies (ETIs) structure and efficiently deploy receivables financing. The company was founded in 2006.
T.H.: Under a different name originally, wasn’t it?
T.R.: That’s correct. It was called Chateaudun Crédit at the time.
T.H.: Yes, that does ring a bell.
T.R.: Exactly. We changed the name around six months ago after realising that half of our business was international—and…
T.H.: …and “Châteaudun” didn’t exactly resonate globally, did it?
T.R.: Exactly.
T.H.: Hence the new name, FIBUS. What exactly is receivables financing? I have to admit, I’m not entirely sure – and I’m sure many viewers aren’t either.
T.R.: Receivables financing is a funding technique that allows companies to offset the payment terms they grant their customers. For example, if a company generates €100 million in revenue and invoices on 60-day terms, it effectively has €16 million tied up in working capital. Receivables financing allows that cash to be brought forward, so it can be reinvested into operations and growth.
T.H.: Are there other areas of expertise at FIBUS?
T.R.: Yes, we also work on credit insurance. It is a key component of trade credit risk management. If you invoice a customer on 60-day terms and they become insolvent, the insurer compensates you. Credit insurance is essential for receivables financing to operate effectively.
T.H.: Why did you create the business? What was your initial observation?
T.R.: The first observation is that financing is critical to corporate growth. One in two mid-sized B2B companies uses receivables financing. All banks offer similar solutions, but implementation is often complex. Our role is to make deployment as simple as possible – especially for companies with multiple subsidiaries, training needs, and a requirement to effectively repatriate liquidity within the group.
T.H.: How do you position yourselves in this advisory market?
T.R.: Today we represent around 10% of the French receivables financing market, which is roughly €400 billion in annual flows. Through brokerage and software activities, we manage around €40 billion in financing volumes. We also acquired a specialised software provider two and a half years ago.
T.H.: That must have completed the puzzle?
T.R.: Exactly. It is now a strategic pillar for us, driven by market demand. Companies today need to be able to implement receivables financing quickly.
Founded in 2005, FIBUS is Europe’s leading receivables financing broker. The firm grew from 42 to 50 employees in one year. 48% of revenue is generated internationally, with operations across 32 countries. In 2022, the French factoring market represented €416 billion, with FIBUS accounting for around 10% (€41 billion). The firm grew by 34% in 2022, outpacing the market (+17%).
T.H.: Who are your clients?
T.R.: Primarily international ETIs and some large multinational groups. The key requirement for CFOs is the ability to quantify the cash impact of receivables financing. We always start with an audit to validate working capital assumptions, then support the full implementation – from negotiation to bank selection, team training, IT integration, and operational handover.
T.H.: So your main interlocutors are CFOs?
T.R.: Exactly.
T.H.: And your role is advisory and support?
T.R.: Precisely.
T.H.: Simplification seems to be the key word.
T.R.: Absolutely. The objective is to make factoring as simple as possible.
T.H.: Why do companies come to you rather than directly to their bank?
T.R.: One does not replace the other. Banks provide the funding; we handle structuring, integration, and operational deployment within the organisation.
T.H.: How has the market evolved since the company was founded?
T.R.: Receivables financing has become the primary source of short-term corporate funding in most European countries, ahead of overdrafts and traditional credit lines.
T.H.: And digitalisation?
T.R.: Automation and digital integration between corporates and factors have been a major catalyst for growth.
T.H.: And how do you reconcile speed with risk management?
T.R.: Companies are entering a more uncertain environment. They face two risks: customer credit risk and banking support risk. Receivables financing provides stable funding that is resilient in downturns. It is a form of financial insurance.
T.H.: What are your international ambitions?
T.R.: Continued expansion. We operate across Europe and also support US subsidiaries of European groups. We have a UK subsidiary, and key markets include the UK and Germany.
T.H.: You also mentioned a digital solution?
T.R.: Yes – ARI Trade, launched in 2023. It connects all subsidiaries with both factors and credit insurers, enabling integrated management of receivables financing and risk coverage.
T.H.: Does the current “polycrisis” environment increase your relevance?
T.R.: Yes. Finance departments cannot afford mistakes in structuring funding programmes. The key is to quantify, secure, and stabilise funding sources. That is exactly what we aim to deliver.
T.H.: Thibaut Robet, thank you for introducing FIBUS on Le Grand Entretien.
Source: LE GRAND ENTRETIEN, an interview programme produced by Le Point and B SMART.