Simply Asset Finance recognises strong growth in landmark year for business
- Strong growth sees 1,786 new agreements agreed since January 2023, with H1 profits of £3.2 million and £152 million of funding to UK businesses
- New office in Liverpool opened to support regional growth, with ten new hires across the UK in July
- Business gains further industry recognition in Asset Finance UK 50 list, moving up five places, and secures top 20 FT1000 ranking for second year running
In a standout year so far for Simply Asset Finance, the specialist business lending provider has seen impressive profits of over £3.2 million, lent over £152 million to UK businesses and secured 1,786 new agreements. This has resulted in the business opening a new office in Liverpool and appointing 13 new hires this year alone to support its rapid growth trajectory and bolster the team.
Simply Asset Finance’s ‘technology with a handshake’ approach has been an industry game-changer and integral to its growth as businesses seek the reassurance of funding expertise and a seamless experience when choosing the right financing option. As a result of ongoing demand for its bespoke lending and technology, Simply Asset Finance increased its revenues by 23% from its previous half year.
These results have led to the expansion of its national presence so the growing demand of its lending pipeline can be supported. Its newly opened Liverpool office is now home to six new Business Development Executives. The team has also been bolstered across the UK with four Area Sales Managers and two new additions to the head office support team.
This cohort of new talent has been strategically appointed to further enhance Simply’s partnerships with commercial brokers, while extending the business’ award-winning lending solutions to more fast-growing and established small businesses across the country. These new hires will also further Simply Asset Finance’s ability to continue its business trajectory while maintaining the service levels customers have come to expect from the business.
Mike Randall, CEO of Simply Asset Finance, said: “Having had one of our strongest years yet at Simply, we are more dedicated than ever to serving SMEs and offering them the right support to thrive even during times of economic uncertainty and pressure. Our new hires across the business will bolster our team with new and diverse talent and further support us in this goal.
“Business sentiment remains strong amongst UK SMEs but it’s important they are given the necessary support and expertise for them to remain the heartbeat of the UK economy. As such, Simply is committed to offering a funding experience that looks beyond the balance sheet and combines our people-led approach with efficiency delivering technology.”
Simply Asset Finance has also been recognised by its industry peers in recent awards and rankings. At the AFC Summer awards it was awarded ‘Best Auto or Equipment Finance Company to Work For’ and ‘Lender of the Year 2023’, also moving up five places in the Asset Finance UK 50 list to rank at number 27. Earlier in the year, it ranked in the top 20 of the FT1000’s list of Europe’s fastest-growing financial services businesses, and in the top 12 of the UK’s fastest-growing financial services businesses.
About Simply Asset Finance
Simply Asset Finance was founded in April 2017 by a team of asset finance specialists, in response to the need for innovation and disruption in the sector. It offers an alternative financial model to banks and looks beyond a balance sheet and credit rating, supported by a digitally enabled customer journey. Simply Asset Finance consider a customer’s potential and work with them to identify and implement the best solution to help them succeed. Their highly experienced sales team is made up of people with extensive knowledge of the industries they lend to. This means they understand the day-to-day challenges that businesses face and the dedicated support teams guide customers through the process, helping them every step of the way.
Simply Asset Finance has lent more than £1bn to over 6,800 small and medium businesses across a wide range of sectors including transport, construction, manufacturing, recycling, and agriculture.