Fractory has also introduced a layer of security between local customers and Asian manufacturing, which can be difficult to navigate.
Having worked with more than 170 suppliers across Europe, UK and US, Fractory is using its experience to offer low costs without compromising reliability or quality.
“More international supplier options now make us one of the best-priced options for series manufacturing and complex project-managed orders,” said Fractory’s co-founder and CTO, Rein Torm.
“UK customers seeking the lower prices that can come with offshore production will benefit from our growing number of international supply partners.”
Fractory’s long-term goal is to add not just more international suppliers but more European and UK suppliers too.
“Increasing numbers of all suppliers make us faster and more flexible. It’s important to have a large and diverse network of high-quality supply partners. This is how our customers will most readily access exactly what they need. Local production can be appealing and it is important. But global production is a procurement option many customers expect and with it we are often able to offer lower prices.”
Villem Hion, who ran Fractory’s UK operations for three years, growing the business here from scratch, has recently become global supply chain development manager, increasing capacity and capability in new regions around the world.
“Our supply chain has to expand to meet the requirements of new international customers. And European and UK customers often seek international suppliers, so Fractory requires access to manufacturing capacity globally,” said Villem.
Meanwhile, Fractory has partnered with Kriya Payments to provide flexible credit options to customers.
Kriya (formerly known as MarketFinance) is a UK FinTech business which provides a simple embedded finance platform at checkout. Fractory customers simply place their orders for parts as normal, based on the designs they have uploaded, and by applying for credit terms at checkout - in just three clicks - will see their credit limit change instantly.
There are no extra fees for customers using Kriya who choose to pay in 30 days or at the end of the following month. So, on those short terms it is entirely interest free. Also, a soft credit search is performed before customers take credit so there is no impact on credit scoring.
Kriya has been operating for more than a decade and has processed more than £20bn of UK business payments.
“Partnering with Kriya is a safe and proven way for us to assist customers with cash flow so they can better grow their businesses,” said Martin Vares, Fractory CEO. “It’s the simplest way for us to offer customers an accessible line of credit,” he added.
There’s more information, FAQs and a short video here on the Fractory site.
