FAQs
The essentials of Fapro, in a few answers.
General
What is Fapro?
The infrastructure that connects factoring companies and funds with the source data of every invoice, from official sources such as the SII, Chile’s tax authority, and the Chilean Treasury (TGR).
Does Fapro finance companies or SMEs?
No. Fapro does not put up capital or provide financing. If you are looking for financing for your company, contact a factoring company; many of them use Fapro.
Who is Fapro for?
For factoring companies, including bank-owned ones, and for funds that finance invoices. With Onboarding, also for any company that needs to collect documents from other companies.
What products does Fapro offer?
Four: Smart Finance, to know, monitor and grow a factoring company’s portfolio; Smart Funding · Factoring, for the factoring company to send its invoices to several funds; Smart Funding · Funds, for the fund to receive and evaluate those deals; and Onboarding, to enroll companies with official-source documents.
Where does the information come from?
From official sources: the SII, the TGR, the Company Registry, the Official Gazette, the Insolvency Bulletin and the Labor Directorate. It is source data, not data reported by the company.
Which countries do you operate in?
In Chile.
How do I contact Fapro support?
If you have a question about how to use the platform, email hola@fapro.app. If something is not working, email ayuda@fapro.app and a ticket is opened.
What is factoring?
It is a form of financing in which a company assigns its receivable invoices to a factoring company, which advances the payment in exchange for a discount rate and then collects from the debtor. Fapro is not a factoring company: it is the infrastructure that factoring companies and funds use.
How is Fapro different from a factoring company?
The factoring company buys the invoices and puts up the capital. Fapro does not buy invoices or finance anyone: it is the platform factoring companies and funds use to read the source data of every invoice and to work with each other.
What is source data?
It is the information of every invoice exactly as it was recorded in official sources, such as the SII and the TGR, rather than what the company reports. It is the basis of everything Fapro shows.
How much experience does Fapro have with the SII?
Fapro has been connected to the SII for 7 years and holds the tax information of more than 90,000 companies.
For factoring companies
What data does Fapro read with the SII credentials?
With a company’s credentials we only read its invoices, purchases, sales, assignments and tax information; we never issue or change its documents. The Smart Funding re-assignment is separate: it is done from your factoring company’s account, when you assign.
Do I have to change my current system?
No. Fapro works alongside your system, and everything you see in the platform is also available via API.
Does Fapro give me a rating of my clients?
No. We show you where to look, with traffic lights and the threshold in plain sight. Your risk engine applies the policy your team sets.
Can I monitor my portfolio without enrolling my clients?
Yes. With your factoring company’s SII credentials, the assignment monitor watches the invoices assigned to you and emails you if they are disputed or a credit note is issued against them.
How do I find out if something changes in my portfolio?
Through daily email alerts, without logging in to the platform. For example, if an invoice assigned to you is disputed or a credit note is issued against it.
How do I raise funding with Smart Funding?
You build a batch with invoices already assigned to you, send it to several funds at once and compare the advance each one offers. When you choose one, Fapro re-assigns the invoices from your factoring company’s account, directly to the fund or to the Bolsa de Productos de Chile (BPC), Chile’s commodities exchange, without you leaving the platform. In the platform you’ll find it in the Financiamiento module.
What happens if a re-assignment fails?
The invoice is flagged with the reason, and you can retry it or send it in another deal.
Does Fapro finance my clients?
No. Fapro does not put up capital or take risk: it is the infrastructure that connects you with funds. The client always stays yours.
Is Fapro software for factoring companies?
Yes. Smart Finance shows you a 360° profile of every client, daily alerts on your portfolio and the financeable invoices your clients have not yet assigned to you, and Smart Funding · Factoring connects you with funds. It works alongside your current system.
How does a factoring company raise funding?
Through banks or funds that buy its invoices. With Smart Funding · Factoring you send the same batch to several of the 5 funds in the network, compare each fund’s advance before you assign and pay nothing to use it.
What is the assignment of an invoice?
It is the transfer of the receivable of an electronic invoice to a third party, such as a factoring company or a fund, recorded with the SII. A disputed invoice cannot be assigned; an assigned invoice can be re-assigned. With Smart Funding · Factoring, Fapro re-assigns invoices already assigned to you, from your factoring company’s account and without you leaving the platform.
Does Fapro help prevent invoice fraud?
Yes. You see every invoice exactly as it was recorded in the SII, with its assignments and disputes, instead of what the client reports. BL Capital prevented fraud of more than CLP 200 million with source data.
For funds
Where does the data in each deal come from?
From official sources, such as the SII and the TGR, from the origin of every invoice. It is not data reported by the client.
Do I see who the issuer is?
What is shared about the issuer is defined by the agreement between the factoring company and the fund. In every case you evaluate with the source data of the debtor and of the deal.
Who decides and sets the rate?
You do. You approve, adjust the rate or request a review, invoice by invoice; Fapro does not buy, finance or evaluate.
How do I find out about a new deal?
You get an email alert with every deal.
Do I have to build the integration?
No. We integrate with your system; if you don’t have one, you use the fund portal.
How does a fund finance a factoring company’s invoices?
You evaluate the deal invoice by invoice and pay the factoring company an advance at your rate. The invoices are already assigned to the factoring company, and Fapro re-assigns them from its account, directly to your fund or to the Bolsa de Productos, which holds them in custody on the fund’s behalf.
How many funds are in the Smart Funding network?
There are 5 funds today. Joining is free and we handle the integration with your system.
Onboarding
What is Fapro Onboarding?
A product to enroll companies in minutes with official-source documents. You can use it on its own or as part of the Fapro platform.
How does the process work?
In three steps: the company enters its credentials and signs the mandate, Fapro collects its documents automatically, and only if something is missing is it uploaded by hand.
Which documents does it collect?
The tax folder with VAT (F29) and income tax (F22) returns, e-RUT, shareholders, bylaws, Official Gazette filings and certificates. They arrive bundled in a ZIP.
How long does it take?
Document validation takes less than 30 seconds and activation, 2 minutes. BCI Pagos went from 2 weeks to 20 seconds.
Which companies is it for?
For any company that collects documents from other companies: factoring companies, banks, fintechs, insurers, real estate and e-commerce. It cuts lost prospects by up to 70%.
Can it carry my brand?
Yes. The enrollment landing page carries your company’s brand, and you can also integrate Onboarding via API.
What is the tax folder (carpeta tributaria)?
It is the SII document that gathers a company’s tax information, such as its VAT (F29) and income tax (F22) returns, so it can be shared with a third party. With Fapro Onboarding it comes straight from the SII, without asking the company for a PDF.
What is business onboarding or KYB?
It is the process of knowing and validating a company before doing business with it: shareholders, bylaws and tax standing. Fapro Onboarding does it with official-source documents, and validation takes less than 30 seconds.
What is the tax debt certificate?
It is the certificate from the Chilean Treasury (TGR) that shows whether a company has tax debts. Fapro checks the TGR as an official source and, in Smart Finance, shows a Treasury traffic light for your whole portfolio.
Security and data
Is it safe to share SII credentials?
Yes. Access is read-only and the company can cut it off whenever it wants, for whoever it wants. The credentials are stored encrypted and no one at Fapro can see them: only the system uses them to read official sources.
Who sees my company’s information?
Only the factoring company the company gave access to. If that factoring company sends a deal to a fund, what is shared about the issuer is defined by the agreement between the factoring company and the fund.
How is access revoked?
By emailing ayuda@fapro.app or seguridad@fapro.app. If the company changes its SII password, access is also cut off.
What certification does Fapro have?
ISO/IEC 27001:2022, certified by DNV and valid until March 2027. If you need it, we share our ISMS documentation under a non-disclosure agreement: email seguridad@fapro.app.
How do I report a vulnerability?
Email seguridad@fapro.app or ayuda@fapro.app with the subject “Security”.
What can’t Fapro do with my SII credentials?
Fapro cannot issue, cancel or change invoices, assign them or sign on your behalf, make payments or file taxes. It only reads your information and shows it to whoever you authorized.
Will Fapro ask for my credentials by email or WhatsApp?
No. Fapro will never ask you for your credentials, transfers or payments by email, phone or WhatsApp: the credentials are only entered on the enrollment page.
Integration and pricing
How much does Smart Funding cost?
Smart Funding is free, for factoring companies and for funds.
How much do Smart Finance and Onboarding cost?
Book a demo and we’ll walk you through it.
Does connecting to Fapro cost a company anything?
No. Connecting its SII credentials is free for the company.
Does Fapro have an API?
Yes. Everything you see in the platform is available via API for your core system or your ERP, and Onboarding also integrates via API.
Do I need to install anything?
No. Fapro works alongside your current system, and Smart Funding is a module of the same platform.
How does a fund integrate?
We handle it: if you have a system, via API to yours; if you work manually, you use the fund portal. Free in both cases.
How do I get started?
Book a 30-minute demo and we’ll show you Fapro with your own case.
Anything left unanswered?
Book a demo and we’ll talk it through with your case.