Close Brothers Invoice Finance has introduced a new team, branded ‘Scale Up’, to provide funding support for start-ups and smaller SMEs. The unit will offer facilities of up to £350,000 and prepayments of up to 100%, aimed at “maximising liquidity from day one”.
Clients will have access to the funder’s IDeal platform, which transfers the value of new invoices into customer accounts “the moment they are raised”.
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Facilities above £350,000 will remain with the Commercial team, covering £350k–£3m transactions, while the Corporate & ABL division will continue to handle structured solutions up to £65m. For lending beyond that, the group’s Syndication product can be considered.
George May, Managing Director at Close Brothers Invoice Finance, said access to funding at the earliest stages “remains one of the biggest challenges” for UK founders. He added: “Whether it’s a new start or a business scaling rapidly, our products are now suitable from inception to £1bn+ in revenue.”
The Scale Up team comprises Andy Leopold, Imogen Hunt, Mike Walsh, Monica Judge, Ash Middleton, Adam Knox, Martin Baker, George May, and Martin Isik-Rozwadowski.
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