Advantedge Commercial Finance (Advantedge), a leading invoice finance company has secured up to £100m in funding to support its ambitious growth plans. The deal comes on the back of a period of strong growth and development for the firm and supports its intentions to become a leading funder to UK SMEs looking to access fast, flexible and straightforward funding for growth.
The deal provided by NatWest ABL and Lloyds Bank Commercial Banking and strengthens the firms position as they seek continued growth through geographical expansion. It follows a series of initiatives instigated by a management buyout in November 2016 and includes a rebrand, the launch of two new offices in Scotland and The Midlands and most recently the acquisition of Henry Howard Cashflow Finance in July 2018 which saw the business take on new premises in Newport to increase its support in Wales and the South West region.
As David Tilling, CEO, says “We’re delighted to secure this increased funding facility of up to £100m. The ongoing support from our funders is a significant boost to our business and reflects our achievements and their confidence in our future plans. This milestone enables us to continue our rapid growth trajectory and complements our commitment to continuously investing in the business to not only deliver much needed funding solutions but to deliver the very best in client service. The whole team here are very excited about what it means not only for the business but also for our clients”.
Headquartered in the Thames Valley with regional offices in the Midlands, Manchester, Glasgow and the South West & Wales, the business provides fast, flexible and straightforward finance solutions of up to £1.5m to small and medium sized firms to help them optimise cash flow and drive growth. Established in 2001, Advantedge has grown to become one of the leading privately-owned invoice finance companies in the UK. Having funded more than £2bn worth of invoices to date, the company currently provides just under £65m of funding support to UK businesses across a variety of sectors, ranging from manufacturing to security services.