Hexa Finance, a UK-based financial services consultancy serving the IT and telecommunications space, has signalled its expectations for growth with the appointment of Adrian Monger to the newly created role of associate director.
The move follows news that the UK economy is poised to expand rapidly this quarter as coronavirus-related restrictions are lifted and pent-up demand is unleashed.
Monger joins from Macquarie Group and Link Group, two Australian-based businesses. He is a graduate of BPP University.
Hexa Finance, which describes itself as providing long-term strategic relationships between vendors and funders, was launched in November 2020 by Ben Davies and Stuart Mason, who worked together in technology vendor finance for GE Capital and Macquarie, before embarking on starting up Hexa. Monger is an ex-colleague of Davies and Mason from Macquarie.
Monger (pictured) said: “The next 6 to 12 months are important for the UK economy and our industry. I think we will see the asset finance industry move slightly and risk appetites will change, or will need to change, to support the market.”
Monger added that with most UK businesses being affected by Covid, higher levels of debt will be noticeable on SME balance sheets compared to pre-pandemic times, with many businesses having taken advantage of the Government’s various emergency schemes designed for the business community.
Therefore, Hexa’s credit-granting decisions will consider a business’s trading history prior to Covid and its plans after Covid “to ensure we obtain positive credit decisions for our vendor partners,” he said.
“As we move out of Covid restrictions, we will see businesses return to their busy normality and will hopefully see a period of growth. If the economy grows it leads to more business spending which will lead to an increase in demand for the financial solutions, we support our customers with.”
Ben Davies, co-founder of Hexa Finance, said: “Whilst there is still plenty of uncertainty in the UK, I am encouraged by the resolve shown by businesses in getting through this pandemic. Hexa are 100 per cent committed to supporting UK SME’s with our Smarter Lending Solutions as the economy looks to grow again”