Accelerated Payments advances EUR 750 mln to businesses

Wednesday 18 May 2022 10:29 CET | News

UK-based alternative finance company Accelerated Payments has advanced EUR 750 million to businesses, as companies emerge from the COVID19 lockdown.

Founded in 2017, the company offers flexible working capital solutions to help businesses manage their immediate cash flow needs. This is achieved by paying the individual invoices of companies up front, thereby freeing up capital that is tied up in paperwork.

The company has managed to widen its pool of clients by partnering with Virgin Money to support the development of its business banking proposition and bring additional services to customers and with XDC Network and Tradeteq, which launched the world’s first trade finance-based non-fungible token (NFT) transaction with Accelerated Payments as the asset originator.

Post-COVID19, businesses are struggling with the end of government grants and furlough schemes as well as an unprecedented spike in the cost of living. For companies in the UK, they have the additional burden of Brexit and all the challenges that come with leaving the EU. All of these factors have contributed to their rapid growth.

The company is keen to support more British businesses. Since 2021, it has seen an increase in exports to countries outside the EU post-Brexit and longer payment terms. Accelerated Payments can offer liquidity during this time, as it has experience with SMEs trading internationally, a point that sets it apart from other fintech providers.

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Keywords: fintech, SMEs, lending, Brexit, pandemic
Categories: Payments & Commerce
Companies: Accelerated Payments
Countries: Europe, United Kingdom
This article is part of category

Payments & Commerce

Accelerated Payments

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