Reward Finance gets further £10m boost from Foresight Group
THE REWARD Finance Group has received an additional £10m investment from Foresight Group.
The cash is designed to help fulfil the growing demand by SMEs for its business finance, trade finance and invoice finance products.
The latest investment by Foresight, an independent infrastructure and private equity investment manager, comes just 11 months after providing Reward Finance with £40m, which enabled it to double its lending capability.
Having been founded in 2011, Reward Finance now forms 75 per cent of Mettle Investments, a financial services company which is quoted on the South African stock exchange.
Sales and marketing director of Reward Finance, Nick Smith, said, “The fact that Foresight has added a further £10m to its initial investment of £40m demonstrates the faith it has in us to continue to maintain our impressive growth by providing SMEs with fast and flexible funding to enable them to grow their businesses.
“An increasing number of companies are turning to assetbacked funders like Reward Finance as traditional banks can be slow to react when, more often than not, funds are needed quickly.
“With the extra funding, we will be able to quickly meet the growing demand for our finance products across the North of England, through our offices in Leeds and Manchester.”