Advantedge appoint Luke Passmore to support growing demand
Advantedge Commercial Finance (Advantedge), a leading invoice financier, has appointed Luke Passmore in the role of senior relationship manager. Based out of their Thames Valley office, Luke will be responsible for managing a portfolio of clients ensuring he balances the need to meet clients funding expectations whilst protecting the firm’s exposure.
The appointment comes as the firm continues to experience growing demand from SMEs in the region resulting in an increasing number of new clients and an uplift in funds provided to UK Businesses, exceeding £110m in 2021 as they continue to support firms recovering from the pandemic.
The appointment follows what has been a challenging time for UK but businesses leaders in the Thames Valley, one of the most economically successful across the UK, are feeling more confident about the economic outlook than those in other regions. The regional figures from the British Chambers of Commerce Quarterly Economic Survey showed orders had increased by 53% and UK sales had increased by 56% in Quarter 3 – better than the national average.
Luke brings with him a wealth of experience in the invoice finance and asset-based lending sector having spent fifteen years in both operational and risk and audit roles gained across the banking sector and independent funders with ABN AMRO, RBSCS, and HSBC before joining Advantedge from Bibby Financial Services where he spent five years as a risk manager.
As Luke comments on his appointment: “Its an exciting time to be joining the team at Advantedge as they set out ambitious plans to support even more businesses in 2022. They stand behind their belief that businesses based in the Thames Valley and Southern region have a crucial role to play in driving economic growth. They are committed to delivering a locally based operation which understands local businesses and their markets. The opportunity to join a business in the sector, with such a strong commercial perspective, access to large funding pools and a commitment to delivering a market leading service, was impossible to ignore. With funding facilities available up to £2m I am looking forward to supporting firms in the region as they continue to grow their firms.”
Advantedge, offer a full range of invoice finance facilities to small and medium sized businesses delivering fast and flexible finance solutions to clients on their own terms. With client sales and operational centres based in Newport, Birmingham, Manchester, Glasgow as well at the Thames Valley, the firm continues to focus on being close to their clients and understanding local differences and the support required
As Mark Finn, regional director of Advantedge concludes: “We are delighted that Luke has joined the team. He brings a strong reputation having managed extensive client portfolios for a range of funders during both good and challenging economic climes. We remain committed to personal and local relationships to ensure we can deliver empathetic solutions that meet our clients’ expectations and Luke’s centric approach makes him an ideal choice for this role”.
