Optimum Finance reaches half-a-billion-pounds advanced milestone
Specialist invoice finance provider Optimum Finance has continued with its consistent growth trend into 2022 making the first half of the year the most successful period in the company’s history. Key milestones for Optimum this year have been over half a billion pounds advanced to UK SMEs, processing over 400,000 invoices and working with clients in almost 50 different industries.
Portfolio highlights for H1 2022 vs H1 2021:
- New business increase of 25%
- Loan book growth of 61%
- Client turnover increase of 57%
- An additional 44% of cash advanced
Optimum prides itself on excellent service and being a company that cares. This has been recognised in part by being named finalists for Service Excellence at the SME National Business Awards.
Clients that sign up to Open Banking benefit from a further reduction in effort of managing their facility. Optimum are proud to have seen over 1/3 of our new clients signing up to Open Banking services.
A promising upturn in activity and customer base has driven a boost to client receivables by 67% with client exposure growing by 61% compared to the same time last year. These huge increases are driven by a rise in performance from Optimum’s existing client base and substantial growth in new business.
CEO Ant Persse commented on the impressive performance saying “It’s great to see that our clients are making more sales, and driving growth, this is a truly positive sign. We are extremely proud to play our part in this by providing access to much needed cash for these fantastic businesses, that are delivering goods, services and job creation. We consider our service provision as a launchpad for businesses to succeed despite global economic downturn and interest rate rises.
“The half-a-billion-pound advanced milestone we’ve reached this year is a testament to the reliability of Optimum in providing continued funding to businesses that want our help. I’m confident that we will continue this growth trend into 2023 and beyond.”
Optimum’s forecasted figures for the remainder of the year are similarly impressive with additional increases in all areas of the business. Momentum is forecasted to continue within the invoice finance portfolio, with client portfolios to finish 45% higher than H2 2021 and new client volumes up 39% against 2021.