Leading invoice finance specialist Optimum Finance is set to report impressive growth figures for 2019 as it continues its steady expansion and announces a new office in Mayfair, London.
After just three years in operation, the firm has rapidly broadened its operations throughout the UK. Now bolstered by a team of 28, including regional sales directors covering the North, Midlands, London and South East regions, Optimum Finance reported a 22.5% increase in revenue in September compared with the same period in FY18/19.
Located in prime central London, the firm’s second office is an indication of Optimum Finance’s growing national client roster and the upwards trend of SMEs seeking invoice finance and factoring services to manage cash flow.
The specialist lender has recently welcomed some high-profile clients in the South East region, including LanaRoc Healthy Bites, EYC, Tailor Mack, Bucks Healthcare Services and Hope & Ivy, a fast-growth UK fashion business specialising in occasion wear which appeared on Dragons’ Den in 2016.
Commenting on the move to Optimum Finance, Hope & Ivy co-founder Beth Chilton said: “We were looking for a more flexible approach from our finance provider as the traditional banking style does not work for the changing needs of our business as we grow.
“The Optimum Finance team worked with us to put together a tri-party agreement which includes invoice finance as well as trade finance and they gave us a better deal than we had previously.
“We’re entering another period of rapid growth and expansion and we are looking to move into the US market next year, so having a reliable funding partner is vital.”
Commenting on the expansion of the region for Optimum Finance, regional sales director for London and the South East Mike Stevens said: “It’s been a hugely successful year for the firm and we’re pleased to be working with such a range of SMEs to deliver bespoke, cost-effective and flexible funding solutions.
“We’re ending 2019 on a strong note with 2020 set to be another year of growth as we continue our focus on developing proprietary technology and improving the efficiency of the finance function which is essential to the future success of small businesses.”
Optimum Finance CEO Richard Pepler commented: “Having a base in London is testament to our business aspirations and expertise in supporting the companies forming the backbone of the UK economy to manage their cash flow and drive growth.
“Our commitment to combining traditional commercial customer service and commercial underwriting with state-of-the-art fintech is driving our ever-expanding client base as we develop our reputation as a trusted lender in the receivables finance space.”
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