Accelerated Payments rapidly accelerated growth by expanding our cross-border funding capabilities, developing core partnerships and strengthening the diversity of our leadership team.
At a glance:
- The total includes €500 million in Invoice Financing delivered in the last nine months
- Previous €1 billion was advanced over a period of five years, showcasing a strong rate of growth
- Seamless cross-border, international funding capabilities, a diverse leadership team and capabilities to work alongside existing funding arrangements with a broad referral partner network were key reasons for the successful growth
A surge in demand for innovative Invoice Finance solutions
Accelerated Payments has advanced an additional €500 million to businesses globally in the past nine months of 2023, bringing the total to €1.5 billion on our sixth anniversary.
The impressive amount showcases the strong surge in demand for our innovative invoice financing solutions, which offers a fast and convenient way for scaling SMEs and Mid to Large Corporates to access working capital that may otherwise be tied up in outstanding invoices.
Founded in 2017 and headquartered in Ireland, Accelerated Payments addresses the problem of cash flow for businesses through flexible and bespoke invoice finance solutions.
SMEs and Mid / Large Corporates can decide which invoices to fund by using a simple, streamlined client portal that allows businesses to upload and select invoices for advanced funding. Once approved, payment is advanced usually within 24 hours. As well as advancing the invoices, Accelerated Payments (AP) additionally provides Credit Insurance as part of its solutions, providing an additional layer of protection and added value to its clients.
Seamless, Cross-Border, International Capabilitites
The announcement comes at a time when AP has more than tripled our workforce, boosted our strategic partnerships with brokers, financial and advisory firms and extended our global reach, with offices in Europe, the UK, Canada and the USA.
AP celebrated advancing €1 billion in invoices funded in January of this year, soon after our fifth birthday. Since then, we have advanced a further €500 million over a period of just nine months, growing the size and influence of our company in the markets we operate in.
A number of factors have contributed to this strong rate of fast growth, including our seamless, cross-border, international funding capabilities. To date Accelerated Payments has advanced funding on more than 120,000 invoices to circa 450 clients and 1800 debtors across 45 countries, allowing businesses across sectors to overcome cash flow challenges as they grow across borders.
Ability to work alongside existing funding arrangements
Another reason to our success is our focus on collaborations, working alongside traditional funding institutions such as banks to support more businesses without affecting any existing security arrangements that may be in place between a bank or advisory firm and its clients.
Accelerated Payments has increased the number of partnerships with brokers, debt advisors, and financial firms and is working with clients that already have credit facilities in place with these referral partners. AP has partnered with banks to provide solutions that sit outside a banks existing product suite to support their clients.
A diverse hiring strategy has also been vital to growth. The appointments of Sarah Disney as Operational Risk Manager, Karimi Nash as Head of Settlements and Yumie Nakahashi as Client Operations Manager mark three additions to the management team.
Commentary from, Ian Duffy, CEO of Accelerated Payments
Commenting on the company milestone, Ian Duffy, Founder and CEO of Accelerated Payments, said: “I am humbled that businesses around the world have entrusted us with over €1.5 billion in Invoice Financing, and that the people we’ve hired have dedicated their expertise and commitment to help them scale and thrive. To reach this milestone within six years of operations is a momentous achievement, underscoring the invaluable impact of our funding on businesses as they scale across borders. In the coming years, we will maintain and amplify our focus on flexibility and innovation, adding support for new regions and launching further funding capabilities.”
Ian added: “Harsh economic conditions are hampering ambitious businesses in every industry but Accelerated Payments is here to help. We are extremely proud to have created a flexible funding source, enabling companies to alleviate cash-flow challenges limiting their growth. As we celebrate yet another milestone, I want to thank our strong base of existing and new customers for continuing to support us as we pioneer the tools available to businesses of all sizes, increasing resistance to liquidity challenges.”