365 finance, a UK-based company specialising in revenue-based financing for small and medium-sized businesses, has appointed Warren Abbey as its new CEO.
Abbey, who joined the company in 2023 as chief commercial officer, is credited for helping to drive a 42% yearly growth in sales.
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As a chartered accountant, his financial career began at KPMG, followed by executive roles at OracleMed Health and Bayport’s Latin American operations.
With a focus on lending, Abbey’s experience spans markets in the Americas, Europe, and Africa.
365 finance founder and current CEO Andrew Raphaely is set to become the company’s executive vice-chairman.
He will support Abbey and act as the board’s main contact for the executive committee and the business community.
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By GlobalDataCommenting on the appointment, Raphaely said: “We are delighted Warren is stepping up to this role, following a very competitive appointment process. He has an enormous amount of experience in leading businesses with a commercial focus and I look forward to working closely with him to supercharge our growth.”
Abbey added: “365 finance is an incredible business with a terrific team in place. The business has grown to become a leader in revenue-based lending and embedded finance, and our growth trajectory is very exciting.”
In February, 365 finance reported an 87% year-on-year surge in online businesses seeking quick and flexible funding solutions.
The data highlighted the top five sectors with increased funding demand: online businesses (87%), hotels (55%), medical and professional services (49%), hair and beauty salons (48%), and garages and MOT centres (47%).
