Since launching three years ago, Fleximize has lent £60m to British SMEs off its own balance sheet and, following a record-breaking quarter in Q3, the company is well on track to hit its goal of lending more than £100 million to SMEs by the close of 2019.
Following its most recent funding round in April 2017 (£16.3m), the company has further enhanced its product offering and member benefits, while significantly boosting its lending capacity – all the help SMEs thrive.
Led by Peter Tuvey, co-founder and managing partner, Fleximize is a direct funding company and web platform for British small and medium-sized businesses. The company’s Revenue Advance provides clients with flexible funding that they repay at the pace of their business with no fixed interest or capital repayments every month. Instead, they pay a percentage of their revenue until an agreed amount is repaid. Clients can use the money to purchase inventory, upgrade their premises or website, hire staff, and otherwise improve and grow their businesses.
Commenting on this new achievement, Tuvey said: “Our consistent growth has proven that SMEs need alternative lenders like us to help make their businesses a success. We’ve become an integral cog in our customers’ success stories, and that’s something special. Our customers are representative of the hands-on, hard-working and dedicated entrepreneurs that are driving the UK economy forward.
“This has been a very exciting year for Fleximize, and we can’t wait to see what 2018 brings. We look forward to continuing to support British businesses in the face of Brexit, and beyond,” he continued.