Ireland’s newest independent finance provider, Capitalflow, has today announced it will commit €300 million in finance to Irish SMEs.
Today’s announcement of €300 million is part of the company’s launch and growth strategy in the Irish market which aims to increase its workforce and market share significantly in the next two years.
The company will finance small and medium sized businesses through a variety of financial products including asset finance, invoice finance and asset-based lending, providing SMEs immediate access to finance for working capital management, day-to-day expenses, sales and business growth.
Capitalflow was established by former Close Brothers Managing Director, Harry Parkinson and former Bibby Financial Services Managing Director, Ronan Horgan, Capitalflow was founded in November 2015 and began operating in April 2016. The company is headquartered in Dublin with offices in Belfast.
Backed by London-based private equity firm Pollen Street Capital, Capitalflow has provided €50 million in the past six months to over 230 Irish SMEs.
Managing Director of Capitalflow, Ronan Horgan says, "Providing €50million funding to over 230 Irish businesses in just six months is a clear indication of the need and demand for finance among Irish SMEs. We see particular demand across the construction, transport, manufacturing and tourism sectors which are key industries for employment and business growth in this country."
He added, "Our funding options deliver flexible and immediate funding options to businesses and we are different to traditional forms of finance. We process funding applications and make a decision on financing in days, rather than leaving SMEs waiting weeks for a response. We provide SMEs instant access to finance."