Spanish sustainable fashion brand Ecoalf has secured €4 million in financing from factoring specialist Eurofactor. The funding will be used to support Ecoalf’s short-term working capital needs and help accelerate its global growth and expansion into international markets. Under the agreement, Ecoalf will transfer its invoice collection rights to Eurofactor, allowing the brand to access up to €12 million in financing per year, with an initial limit of €4 million.

This financing arrangement is part of Ecoalf’s strategic plan to continue financing its growth and aligns with its commitment to sustainability. Eurofactor, based in Paris and part of the Crédit Agricole group, has demonstrated its dedication to sustainability by partnering with Ecoalf.

Founded in 2009, Ecoalf is a pioneer in sustainable fashion. Its tagline, ‘Because there is no planet B,’ reflects its mission to manufacture apparel using recycled materials. The brand prioritizes new technology and research and development investments to create innovative and environmentally friendly products. Additionally, Ecoalf is a certified B Corporation, further emphasizing its commitment to social and environmental responsibility.

Founder Javier Goyeneche has been recognized for his contributions to social innovation, receiving a prize from the Schwab Foundation. This award highlights Goyeneche’s dedication to driving positive change within the fashion industry and beyond.

The factoring deal with Eurofactor provides Ecoalf with the necessary financial resources to continue expanding its global footprint and achieve its ambitious growth plans. As Ecoalf continues to thrive, the financing limit may increase, allowing the brand to secure more resources in support of its mission.

This strategic partnership between Ecoalf and Eurofactor is a significant milestone for the sustainable fashion industry. It not only provides financial support to a pioneering brand but also demonstrates the growing interest and commitment of financial institutions towards sustainability. With this financing, Ecoalf is well-positioned to maintain its leadership in sustainable fashion and make a positive impact on the planet.

Useful Links:
1. Ecoalf Official Website
2. Crédit Agricole Official Website