Optimum Finance Continues Growth Trajectory with New Funding Capability
Bristol-based invoice finance provider Optimum Finance has increased its funding capability by 25% following a successful year driven by substantial growth and new client acquisition.
The increase in funding capability will allow the firm to extend higher value facilities based on larger unpaid invoices to more businesses looking to finance for growth, expansion and business continuity.
With the financial pressures of a ‘Cost-of-Business Crisis’, driven by increased fuel and energy bills, rising inflation and interest rates, invoice finance has become an essential cashflow management tool for many businesses, allowing Optimum to continue with its expansion plans despite – or perhaps even because of – wider economic challenges.
This popularity is evidenced through Optimum’s growing customer base. In the first half of 2022, client turnover increased by 60% and client numbers increasing by almost 25%.
Ant Persse, Chief Executive, says the increased funding potential will open the doors for more businesses as an inevitable recession looms: “Millions of pounds are currently tied up in unpaid invoices and with economic crisis on the horizon, this ‘inaccessible’ cash could be a lifeline to businesses struggling to make ends meet.
“With 25% more funding capability, we can unlock more of this cash giving more businesses a way to access funds when they need it. And clearly it’s working: 95% of our clients would recommend our services to others to boost their cashflow. We’re looking forward to helping more clients in 2023.”
In 2022 Optimum achieved the milestone of £500 million in funding advanced to business against more than 400,000 invoices. The performance outlined above has also assisted Optimum in achieving significant increases in both revenue and profitability.