Accelerated Payments supported a growing medical technology business with operations across Ireland and the United States through a selective invoice finance facility designed to unlock working capital tied up in its US receivables.
As sales continued to grow, the business required a flexible source of working capital to support ongoing expansion and day-to-day operations.
The business initially approached Accelerated Payments seeking short-term funding support while progressing a planned fundraising exercise. However, its funding requirements were far from straightforward. The company operated internationally, with an Irish parent company, a US subsidiary and a large US debtor base, requiring a funding solution that could accommodate both the cross-border structure and existing operational processes.
In addition, the client had specific banking and operational requirements that meant a conventional funding structure was not the best fit. The business needed a funding partner willing to take the time to understand its circumstances and develop a solution tailored to its needs rather than applying a standard approach.
Accelerated Payments provided a bespoke selective invoice finance facility designed around the client’s international trading structure and US receivables.
Originally established as a $1m facility, the solution was intended to provide short-term working capital while the business progressed a planned fundraising exercise. However, the flexibility and ease of use of our selective invoice finance solution, combined with the close support of the Accelerated Payments team, quickly made the facility an important part of the company’s funding strategy.
Having seen first-hand the value of the facility and the personalised support provided by the team, the client chose to extend the partnership beyond its original term. As funding requirements evolved and new opportunities emerged, the facility was expanded from $1m to $1.9m, enabling the business to continue its growth trajectory with confidence.
The facility enabled the business to unlock working capital tied up in US invoices, supporting inventory purchases, operational expenditure and continued growth.
Accelerated Payments’ ability to deliver a creative funding solution helped the client overcome a complex funding challenge while providing a simple and flexible source of working capital that aligned with the way the business operated.
By taking the time to understand the client’s business, growth ambitions and funding requirements, Accelerated Payments built a trusted relationship that extended beyond the original funding requirement.
What began as a short-term facility evolved into a long-term partnership, with the client choosing to continue working with Accelerated Payments due to the flexibility, ease of use and personalised support provided by the team.
