Specialist invoice financier, Pulse Cashflow have delivered a record amount of funding to UK businesses in the year ended 30 September 2017.
The firm funded £145m worth of invoices during the year, providing UK businesses with the critical working capital they require to support business growth. The value of invoices funded is up 20% year-on- year with anticipated growth continuing next year as the business continues driving forward with ambitious growth plans.
The growth has largely been fuelled by the growing demand for alternative finance as businesses seek out innovative sources of finance which offer the flexibility to support their businesses. UK businesses benefited from nearly £22 billion of funding from invoice finance in the 12 months ending June 2017 – a 13% growth year on year.
Toni Dare, managing director at Pulse Cashflow commented: “We are proud to support the future of UK SMEs as they work hard to grow their businesses. Invoice Finance can provide a fast and flexible source of working capital that grows as their business grows. Businesses can put this increased level of cashflow to work for their business – whether that be paying suppliers early, investing in more stock or machinery or hiring more sales staff to drive income.”
Pulse Cashflows ambition is to broaden its reach to support a wider range of businesses in different sectors, from start-ups to larger businesses looking to grow. With funding facilities up to £2m, Pulse Cashflow aims to help even more SME’s get paid faster by releasing the cash tied up in unpaid invoices, so business owners can focus on realising their business plans.