Simply Asset Finance
Posted: 16th September 2021 | Share
Leumi ABL has provided a £30m revolving facility, a hybrid between a traditional block discounting facility and a warehouse facility, to Simply Asset Finance.
This deal will allow Simply to provide additional funding to small and medium-sized business across the country, enabling them in turn to employ staff, serve their customers and continue to support the growth of the economy.
Set up in 2017, Simply now employs over 100 people and has funded more than 3,500 customers. Backed by the investor Cabot Square Capital, it helps businesses across a variety of sectors – manufacturing, construction, transport and waste – to purchase equipment, free up working capital and invest in growth.
Ryan Whitworth, Regional Sales Director at Leumi ABL said: “We are extremely pleased to have been able to support Simply and look forward to working with the team.”
Stefan Wolvaardt, CFO at Simply said: “We are very happy for this opportunity to partner and work with Leumi ABL to continue to support UK SMEs. The experience, expertise and proactivity of the team at Leumi ABL has made it a pleasure to put this facility in place and we look forward to a closer relationship as we work with them in the future.”
Mike Randall CEO at Simply added: “We’re very much looking forward to working with Leumi ABL and increasing our lending to UK SMEs. We have achieved an incredible amount in a short space of time and are committed to helping SMEs and fund their aspirations – helping them to grow and prosper. We thank Leumi ABL for their support and look forward to working together.”
Legal advice was provided to Simply Asset Finance by DLA Piper and to Leumi ABL by Osborne Clarke.