Business funding provider Accelerated Payments announced it has advanced an additional €500 million to businesses globally in the past nine months, bringing the total to €1.5 billion on its sixth anniversary.
The amount showcases the strong surge in demand “for the company’s innovative invoice financing solutions, which offers a fast and convenient way for scaling firms to access working capital otherwise tied up in outstanding invoices.”
Founded in 2017 and headquartered in Ireland, Accelerated Payments “addresses the problem of cash flow for businesses through flexible and bespoke invoice finance solutions.”
Companies decide which invoices “to fund by using a simple, streamlined client portal that allows businesses to upload and select invoices for advanced funding. Once approved, payment is advanced usually within 24 hours.” As well as advancing the invoices, Accelerated Payments additionally provides Credit Insurance “as part of its solutions, providing an additional layer of protection and added value to its clients.”
The announcement comes at “a time when the business has more than tripled its workforce to include a strong female leadership team, boosted its strategic partnerships with brokers, financial and advisory firms and extended its global reach, with offices in Europe, the UK, Canada and the USA.”
The company celebrated advancing €1 billion in invoices “funded in January of this year, soon after its fifth birthday.” Since then it has advanced “a further €500 million over a period of just nine months, growing the size and influence of the company in the markets it operates in.”
A number of factors have “contributed to this strong rate of fast growth, including the firm’s seamless, cross-border, international funding capabilities.” To date Accelerated Payments has advanced funding “on more than 120,000 invoices to circa 450 clients and 1800 debtors across 45 countries, allowing businesses across sectors to overcome cash flow challenges as they grow across borders.”
Another reason to this rapid success is the company’s focus on collaborations, working alongside traditional funding institutions “such as banks to support more businesses without affecting any existing security arrangements that may be in place between the bank and its clients.”
Accelerated Payments has increased “the number of partnerships with brokers, debt advisors, and financial firms and is working with clients that already have credit facilities in place with a bank.” The company partners with banks “to provide solutions that sit outside a banks existing product suite to support their clients and to make it easy for other businesses to refer clients to Accelerated Payments.”
