Bristol-based invoice finance provider Optimum Finance has announced a record month as it continues to support the growth ambitions of small and medium-sized UK businesses.
Last month the company posted record numbers regarding funding facilities supplied to SMEs, and client turnover was 23% higher than the equivalent period in 2022, according to a press release.
Optimum Finance achieved revenue growth of 35%, and a 21% increase in gross receivables, the specialist invoice provider reported.
A feature of the last 12 months has been the diversity of the portfolio it supports, whilst broadening the types of businesses it can support enabling them to access more businesses, however, this diversity also supports the business spread risk exposure to any one business type or industry, the company press release said.
Ant Persse, CEO of Optimum Finance, said: “Optimum is deeply committed to supporting as many SMEs as possible, providing them with the critical liquidity they need, especially during these times of economic turbulence.”
“Every single member of the Optimum team is dedicated to delivering exceptional service to our amazing clients and introducers. I couldn’t be more proud of our team and what we have achieved to date. In fact, we recently decided to reward every single one of our team by recognizing them as a superstar that accompanied a reward for their incredible efforts,” he explained.
Invoice Finance uses receivables (invoices) as the principal asset against which money can be raised. The provider pays its SME clients an agreed percentage of the invoice value as soon as it is submitted, driving access to liquidity at the point of invoice as opposed to needing to wait.