Accelerated Payments Tops €1 Billion in Originations

Online lender Accelerated Payments has announced topping the €1 billion worth of invoice financing milestone. Based in Ireland, Accelerated Payments claims to be of the fastest-growing Fintechs in the world, with offices in Europe, the UK, Canada, and the USA.

Accelerated Payments provides a solution for cash flow delays for businesses with flexible invoice finance solutions. A borrower can decide which invoices to fund by using a client portal that allows businesses to upload and select invoices for funding. Once approved, payment is advanced, usually within 24 hours.

To date, Accelerated Payments has funded over 350 clients, covering more than 1,300 debtors across more than 40 countries.

The company states that its current run rate leads it to expect to exceed the two billion Euro hurdle by the end of 2024.

“When we started this business five years ago, we would have never imagined that we would have advanced €1 billion worth of invoice finance in such a short period of time,” said Ian Duffy, CEO, Accelerated Payments. “This milestone underscores the valuable work that we do to support businesses as they grow – even during a time of great market uncertainty. We have managed to give ambitious companies a critical lifeline during the pandemic and post Brexit – and we are currently working to mitigate their financial risks during a global crisis that shows no signs of slowing down.”

Duffy added that his firm has been very fortunate in creating a service that is in demand and it continues to grow day by day.

“As we celebrate our achievement, we also want to look ahead at what we can do to help more businesses get the capital they need to scale and manage their cash-flow challenges.  We have the tools, resources and contacts to accelerate the growth of many more companies and look forward to supporting them wherever they wish to expand in the world.”

The firm also provides credit insurance for debtors.

The firm has established a partner ecosystem of client introducers over the years, including financial brokers, high street banks, FX providers, and Private Equity companies.

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