Business funding provider Accelerated Payments has advanced €500 million to businesses globally in the past nine months, bringing the total to €1.5 billion on its sixth anniversary, the company said in a statement.
The Ireland-based company, founded in 2017, is a provider of flexible and bespoke invoice financing.
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 US, the company said in a press release.
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.
In a statement, the company said 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.
Ian Duffy, Founder and CEO of Accelerated Payments, said: “I am humbled that businesses around the world have entrusted us with over €1.5 billion in invoice financing, and that the people we’ve hired have dedicated their expertise and commitment to help them scale and thrive.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“To reach this milestone within six years of operations is a momentous achievement, underscoring the invaluable impact of our funding on businesses as they scale across borders. In the coming years, we will maintain and amplify our focus on flexibility and innovation, adding support for new regions and launching further funding capabilities.”