Fleximize, the UK’s first revenue-based finance provider, has today announced it has closed a new financing facility of £16,300,000 from Hadrian’s Wall Secured Investments Limited, a specialised investment fund.
The initial round of funding will allow Fleximize to substantially increase its lending capacity, and propel it towards its goal of lending over £100 million to SMEs by 2019. It will also help the company further develop and diversify its product offering, and continue to deliver its mission of first-class customer service by advancing its proprietary technology platform with the introduction of dedicated areas for brokers and direct clients.
Between 2015 and 2016, Fleximize grew its lending to SMEs by 132% to £40 million, a figure that the company is looking to double in 2017 as it rolls out its new secured loan product. Companies can now borrow up to £250,000 from Fleximize on an unsecured basis, and up to £500,000 on a secured basis.
Peter Tuvey, co-founder and managing partner of Fleximize, said: “The chancellor described SMEs as the lifeblood of the UK economy in his spring budget, and we witness that every single day here at Fleximize. From Shelley Dickinson, owner of the award-winning Shelley’s Pie and Mash Shop, to Polly Thompson, managing director of bespoke bridesmaid dress retailer, Nabbd, our clients are representative of the hands-on, hardworking and dedicated entrepreneurs that are driving the UK forward.”
Peter added: “It’s been an incredibly positive start to 2017 for Fleximize, with our lending to SMEs in all sectors growing at a substantial rate. It has been a pleasure working with Hadrian’s Wall Capital Limited. We’ve valued their proactive and fast-paced approach to supporting us. This additional access to funding will fuel our capability to support businesses requiring capital in an unpredictable economic climate, while allowing us to expand our excellent team. We’ve already made a number of key hires this year, including former HSBC and Aldermore senior manager Craig Farmer as chief risk officer, and we are looking to increase our headcount further in the coming months.”
Marc Bajer, chief executive at Hadrian’s Wall Capital Ltd, investment adviser to the fund, said: “We’ve been impressed by Fleximize’s growth over the past three years. It is rare to find such a focused and technology-enabled lender in the SME alternative finance sector. We were impressed with the commitment to transparency with its customers. We look forward to working closely with Peter and the team, and supporting the company on the next stage of its exciting journey.”
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Notes to editors
Fleximize is a UK-based direct funding company and web platform launched in January 2014. Our mission is to help small and medium-sized British businesses grow by providing them with flexible financing solutions tailored to their unique needs and preferences. We are striving to provide our clients with experience and service traditionally available only to larger corporates. Our dedicated relationship managers will guide and support clients from the moment they apply – no bouncing from person to person or waiting for hours on hold.
Fleximize’s innovative Revenue Advance provides clients with flexible funding that they repay at the pace of their business. There are no fixed interest or capital repayments every month. Instead, they pay a percentage of their revenue until an agreed amount is repaid. Clients can use the money to purchase inventory, upgrade their premises or website, hire more staff, and otherwise improve and grow their businesses without worrying that a temporary slowdown in sales could put them in financial trouble.
Fleximize Limited trading as Fleximize is registered in England and Wales with Company Registration Number 07117447. Registered Office & Trading Address: Holbrook House, 51 John Street, Ipswich, Suffolk, IP3 0AH.
About Hadrian’s Wall Capital Limited
Hadrian’s Wall Capital Limited is a private limited company incorporated in England with a registered number 07203454 and is authorised and regulated by the FCA. Website: hadrianswallcapital.com