Global Invoice Finance provider Accelerated Payments has announced a strategic partnership with UK funding platform Funding Friends in order “to facilitate the accessibility of working capital solutions for UK SMEs and mid to large corporate businesses.”
Having previously worked alongside Accelerated Payments Head of UK, Lee Baty and Sales Director Siobhan Jones in previous banking roles, Funding Friends brings an extensive referral network “that Accelerated Payments can leverage, guaranteeing businesses access to essential funds through its innovative invoice finance solutions.”
The need for access to working capital “in a timely manner has only become more crucial for fast growing SMEs and Corporates as high inflation, soaring interest rates and a cost-of-living crisis create further implications for companies.” New Brexit rules are also presenting potential hurdles for businesses who wish to export their products to new markets.
Recent years have been a particularly challenging time for business owners, both large and small – with the number of small businesses alone in the UK shrinking by 6.6% from 5.9 million in 2020 to 5.5 million this year.
Lee Baty, Head of UK at Accelerated Payments, commented:
“The Partnership with Funding Friends highlights the broadening of our Referral Partner network, now working with Brokers, Banks, Financial and Debt Advisory Firms with a clear focus on fostering an ecosystem where UK businesses can grow internationally – offering flexible working capital solutions that can be tailored to suit their needs. AP can provide funding lines ranging from €0.5-€10m on a non-recourse basis.’’
Damian McGann, Executive Chair at Funding Friends, said:
“We are excited about this partnership as both firms have a solid approach to helping businesses grow globally. We have seen first-hand how the right funding can boost a business. Here at Funding Friends, we collaborate with innovative providers like Accelerated Payments who look beyond the obvious – searching the market for the best funding solutions – and this partnership reinforces that commitment.”
Since inception, Accelerated Payments has “provided financing for over 120,000 invoices, amounting to 1.5 billion euros to 450 clients and 1,800 debtors across 45 countries.”
This support enables businesses “from a broad range of sectors to accelerate growth while expanding in international markets.”