Accelerated Payments can today announce that we have advanced an astounding $1 billion worth of receivables financing, shortly after celebrating our fifth anniversary. The $1 billion milestone comes as we triple our workforce and extend global reach, with offices in Europe, the UK, Canada and the USA.
The total also highlights the massive liquidity pressures that companies face at a time of great uncertainty. This is due to soaring energy bills, rising inflation and extreme market volatility.
Who are Accelerated Payments?
Founded in 2017 and headquartered in Ireland, Accelerated Payments addresses the problem of cash flow for businesses through flexible and innovative receivables finance solutions.
Companies decide which receivables to fund by using a simple, client portal that allows businesses to upload and select receivables for funding. Once approved, payment is advanced usually within 24 hours.
A key strength of Accelerated Payments is our international funding capabilities. Accelerated Payments works on a global basis, and assist clients trading both domestically or internationally with multiple currency support. A combination of our innovative FinTech platform, international footprint and track record is driving our continuous global growth. To date, we have funded over 350 clients, covering more than 1,300 buyer across more than 40 countries.
Since our launch five years ago, Accelerated Payments has witnessed a steady incremental increase in volumes on a quarterly basis. Our FinTech platform has processed and funded over 100,000 receivables. Our run rate is also up and is expected to reach two billion euros in total receivables funding in a shorter period of time, as global demand for our services continues to rise.
What Ian Duffy, CEO of Accelerated Payments had to say:
“When we started this business five years ago, we would have never imagined that we would have advanced $1 billion worth of receivables finance in such a short period of time,” said Ian Duffy, CEO, Accelerated Payments. “This milestone underscores the valuable work that we do to support businesses as they grow. Even during a time of great market uncertainty. We have managed to give ambitious companies a critical lifeline during the pandemic and post Brexit. We are currently working to mitigate their financial risks during a global crisis that shows no signs of slowing down.”
He added: “Accelerated Payments has been extremely fortunate to have created a valuable service that has helped thousands of businesses. We continue to grow day by day – thanks to their loyalty as well as our fantastic, dedicated team who passionately support them. As we celebrate our achievement we also want to look ahead at what we can do to help more businesses get the capital they need to scale and manage their cash-flow challenges. We have the tools, resources and contacts to accelerate the growth of many more companies. We look forward to supporting them wherever they wish to expand in the world. ”
As well as funding the receivables, we also credit insure the buyers, giving extra peace of mind. Our clients hail from North America, Asia, the UK, Ireland and the rest of Europe, and operate across different sectors.
At Accelerated Payments, we have established a strong partner ecosystem with other alternative financiers over the years, including financial brokers, alternative lenders and FX partners.
We also work collaboratively with banks. In 2021, made headlines when we partnered with Virgin Money to support the development of its business banking proposition and bring additional services to its UK customers.