Accelerated Payments reports that it has advanced €210 million worth of invoice financing as it celebrates its third anniversary in operation. Accelerated Payments, and invoice financing platform, claims to be the fastest-growing Fintech in Europe. Meanwhile, the company is planning to set up shop in North America using Toronto as a base next year. Accelerated Payments works on a global basis financing SMEs and can therefore fund exporters that invoice worldwide.
Ian Duffy, CEO of Accelerated Payments, said they are proud of their success:
“While other competitors have struggled during the pandemic, we continue to grow from strength to strength, thanks to our solid product offering, loyal customer base, geographic reach and our dedicated and passionate team. Moving forward we want to raise awareness about invoice finance and how it can help more businesses get the capital they need to scale and manage their cash-flow challenges – especially during the COVID-19 pandemic, where government loans, if available, don’t fit the requirements of all businesses and there’s an urgency to address liquidity challenges head on. Also in the pipeline is future expansion into North America, where we see untapped opportunities for our services.”
Based in Dublin, with offices in London and Toronto, Accelerated Payments says it has funded 15,500 invoices to 325 companies since its inception. As well as funding the invoices, the Fintech also credit insures the debtors, providing an extra piece of mind should there be any issues with a settlement.