Optimum Finance builds on service sector growth with new client wins

Invoice finance firm Optimum Finance has signed a number of new clients in the service sector following a record-breaking quarter for the company and a period of huge growth for the sector.

AlphaDrive Engineering Services, Paragons Personnel and AFM (SW) Ltd. are among the latest service-sector companies to join Optimum Finance’s growing roster of clients.

This year, the UK service sector has experienced significant growth meaning that SMEs in the sector have turned to Optimum Finance in search of alternative means of financing to support their business expansion and to access cash held up by their customers in lengthy payment terms.

The last few months saw service sector firms reporting the strongest rise in activity since October 2017 and Optimum’s new client successes bear testament to this trend.

Martyn Wells, managing director of AFM (SW) Ltd., said: “We became a client of Optimum Finance in June and it has been a pleasure working with them. They’ve supported us in many ways, from always being easy to contact to offering us significant financial benefits such as no charges for same-day payments, a higher limit for monies on debt and low costs on debt covered.

“As an SME in the service sector, using Optimum Finance’s factoring service has been hugely beneficial as a factoring stamp on an invoice encourages customers to pay on time. On top of that, being able to split purchase orders means we can invoice stages separately rather than having to wait for an entire job to be completed.”

Richard Pepler, CEO of Optimum Finance, commented: “The momentum of these new client wins represents a significant expansion of our business and demonstrates the value of the services we offer to SMEs and their accountant advisers.

“It’s really encouraging to see that Optimum Finance’s business growth has mirrored the progress being made throughout the UK economy as the service sector continues to bounce back and pick up speed during 2018.”

The invoice finance firm has been going from strength to strength this year with 39 new client wins since June.

Richard said: “We’re thrilled to have signed these new clients in such a short space of time, and our new client relationships will increase the breadth and diversity across our client portfolio. Our expansion comes at an exciting time as we continue to grow – we’ve recently doubled our staff numbers, allowing us to continue servicing this expanding client base effectively.”