Tower Leasing, a UK-based asset finance provider, has announced it has exceeded £200 million in gross receivables through its own book lending, a major milestone the company says reflects “over a decade of strategic transformation and sustained growth.”
According to a press release, the achievement marks a key moment in Tower Leasing’s evolution from a traditional finance broker into a fully integrated hybrid funder. Since launching its direct funding capability in 2013, the company has steadily increased the share of agreements funded through its own book, now comprising the majority of its business.
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“This number represents more than financial success, it’s a testament to the resilience and dedication of our team over the past 30 years,” said Kerry Howells, CEO of Tower Leasing. She added that the 2013 launch of direct lending was a pivotal step in shaping the company’s current model.
Tower’s growth strategy has included investments in technology and infrastructure, most notably the introduction of Tower Extra, a proprietary tool that allows real-time proposal tracking and credit automation, and has “significantly improved the funding experience” for brokers, vendors, and end customers, according to the company.
Institutional partnerships have also bolstered the firm’s funding capabilities. Tower has secured a total of £121.75 million in capital facilities, including £46.75 million from the British Business Bank’s ENABLE Funding programme, £25 million from British Business Investments, and a £50 million integrated wholesale funding agreement with Conister Bank.
“We’ve always remained focused on growing sustainably and building something that lasts,” Howells said, while also crediting longstanding vendor relationships for their role in the company’s expansion.
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By GlobalDataFounded in 1989 and headquartered in Bracknell, Berkshire, Tower Leasing specialises in vendor-led and direct-to-customer SME finance.
