Bristol-based invoice finance firm Optimum Finance increased its lending to small and medium-sized businesses by more than 330% in just its second year of trading.
The firm, founded by former Ultimate Finance chief executive Richard Pepler in 2017, worked with companies across the UK to help fund growth and protect their cashflow.
The businesses operated in a range of sectors spanning recruitment and manufacturing to wholesale and professional services.
As a result, Optimum’s lending hit £60.9m in 2018. Even the usually quiet months of July and August saw a dramatic upswing in business with SME clients generating 10% more income than they were forecasting.
The Optimum Finance team aims to continue its rapid growth in 2019 with plans to double lending to more than £150m over the next 12 months as SMEs look to take advantage of a range of flexible funding solutions to fuel commercial growth.
Optimum Finance provides bespoke funding solutions for SMEs to enable them to release cash tied up in client and customer invoices, enabling them to flourish in prosperous months and prepare for quiet periods.
The firm has seen staff numbers soar in line with lending over the past 12 months with 14 new experienced professionals welcomed to the team.
CEO Richard Pepler said: “We’re really proud of the rapid growth we’ve seen over the past year. This is further evidence of how many more SMEs and accountants are choosing invoice finance solutions to fund growth and development while protecting cash flow.
“Our experienced team is committed to supporting SME growth and have a proper understanding of the needs of small businesses. We do not take a one-size-fits-all approach but tailor our financial solutions to suit each individual client.
“We’re really looking forward to working with many more fantastic businesses in 2019.”
Optimum Finance’s products include invoice discounting and factoring as well as a dedicated credit control team if clients prefer to outsource this element of their financial management.
