Siemens Financial Services (SFS) has provided an invoice finance facility to Proton Group, a Yorkshire-based producer and distributor of hygiene chemicals.

Proton Group was founded in 1971, and hopes the invoice finance facility from SFS will enable it to improve cash flow and help to fund expansion.

David Shaw, finance director of Proton Group, said: “Invoice finance plays an essential part of our business model.  In order to properly plan and structure for our growth targets we need a constant stream of working capital, and invoice finance provides us with this.”

The group’s previous invoice finance deal with a different funder was unable to accommodate an online portal they had developed, as it made reconciling their accounts more complicated.

Guy Webster, head of invoice finance sales (South West & South Wales), Siemens Financial Services, said: “An innovative company needs to be supported by a modern invoice finance system.

“We are delighted that The Proton Group is working with us to help realise their goals and look forward to a long future together.”

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By GlobalData