For over 20 years, we have continued to deliver leading-edge finance solutions through a unique combination of teamwork and technology, and our exciting new chapter is a new name, and new drive to support businesses across the UK. To create experiences that are personal, progressive and partner-orientated. We are proud to introduce Propel.
We are delighted to win over 30 awards during 2019 for our fantastic technology led and service led approach. An additional £60m asset finance facility is agreed with the British Business Bank. We invest £1m into our technology, becoming one of the most flexible and advanced funders in the market. Jon Maycock joins us as Commercial Director.
We sell our Cashflow division to concentrate on our Asset, Retail and Vendor activity. Director Mark Catton, new CEO and Mark Tweed, new CFO joins the business at a time of exceptional growth. The senior management team is strengthened and we drive forward our growth plans to cement our reputation as a leading funder of choice.
We experience another period of enormous growth. Anne Williams joins the business as COO, having previously worked for GE Capital for 20 years.
We lend in excess of £150m to businesses in the UK and our services are recognised by leading industry channels.
£51m asset finance facility is agreed with the British Business Bank’s Enable Funding programme (50% guaranteed by the European Investment Fund). Another £7m is also secured by block funding.
We proudly launch ‘HowApp,’ an online credit decision and deal management portal.
We enter another period of significant growth as we attract a £25 million investment from Cabot Square Capital, a specialist financial private equity investor.
The business writes increasingly more business, using its own capital and creates new business divisions (Asset, Vendor, Retail & Cashflow).
We are recognised as one of the leading providers of SME finance in the UK.