2024 saw us achieve the significant milestone of exceeding £1 billion in invoices financed since the business started. We also ended the year with record highs in Gross Debts and Funds in Use, reflecting the growing demand for our funding solutions.
A major development was joining forces with Apollo Business Finance, strengthening our position in the market and expanding our ability to support more businesses with flexible funding.
The team has grown to 26, with three new Business Development Managers covering the West, South, and Midlands, alongside four new Relationship Managers and two new Credit Controllers, further enhancing our client support.
We continued to expand our client base, welcoming 153 new clients, referred by 41 trusted introducers. While we remain committed to supporting micro-businesses, we have also broadened our offering to cater to larger businesses with more complex funding needs, now providing facilities of up to £1.25 million.
The economic outlook remains uncertain. Inflation is proving sticky, and interest rates are unlikely to fall significantly in the short term. The increase in National Insurance tax is expected to impact businesses investment in staff, which could have a knock-on effect on the recruitment sector, a key part of the receivables industry.
Late payments continue to be a challenge, with many businesses experiencing delays of 30 – 60 days past due. Our DSO (Days Sales Outstanding) average was 37 days, putting us towards the lower end of the scale and helping our clients maintain stronger cash flow.
Our focus for 2025 is clear – continuing to support entrepreneurs. There is a real appetite to help businesses start, grow, and scale, acting as true business partners to help clients achieve their ambitions. We remain committed to delivering flexible funding solutions, strengthening relationships with introducers, and expanding our services to meet the evolving needs of UK businesses.