Midt Factoring A/S was established in 1981 by Egetæpper A/S with the role of offering financial services in the carpet industry. In 1986 the first "full-service" concept was introduced, which has since formed the basis for products and services in financing, debtor management, risk coverage and related services for a wide range of industries. In 1997 the German credit insurance group Gerling established itself in Denmark as Gerling Nordic Kreditforsikring. In 2002 the Coface group acquired the activities and became in May 2008 the majority shareholder of the company, which in connection with that changed its name to Coface Finans A/S.