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New investor strengthens Bill Finance Group


Finance firm Bill Finance Group (IFG) has welcomed a brand new strategic investor to spice up funding and broaden its providing to SME purchasers.

The introduction of WeDo Enterprise Companies Group will permit IFG so as to add funding capabilities and new enterprise finance merchandise for its small to medium enterprise clients. 

IFG is a Brisbane-based boutique finance firm specialising completely in bill financing options for its enterprise clients’ cashflow necessities.

WeDo Enterprise Companies was based within the UK in 2019 and supplies a variety of companies to SMEs together with bill and commerce finance, start-up funding, HR, again workplace and payroll assist. 

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IFG director Paul Tonges (pictured above) stated he recognized a key commonality amongst each companies.

“Because the founding father of IFG, I’m very excited concerning the subsequent chapter of our progress technique. We’re delighted to share a typical alignment in our imaginative and prescient and values with our new traders by persevering with to exceed our clients’ expectations,” Tonges stated.

“This strategic funding will permit IFG to raised service our present purchasers and entice new clients by permitting us to supply a broader vary of finance merchandise and a bigger deal measurement. With so many Australian small companies determined to fund progress, IFG will be capable to help many extra SMEs.”

Tonges stated from his experiences over the past 5 years, IFGs industrial finance brokers and introducers loved the velocity and ease of its bill finance providing and the very fact it was up-front about its threat urge for food.

“Brokers don’t wish to waste weeks on a deal solely to search out out from a finance firm’s threat supervisor that they will not approve it,” he stated. “Typically, inside two to a few days we will facilitate a funding resolution from first assembly to settlement for our introducers and their clients. Bill finance itself is a incredible resolution that provides the enterprise proprietor higher cashflow management and talent to develop their enterprise.”

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WeDo is looking for to determine a presence within the Australian market. Administrators Mark Lindsay and Chris Robinson engaged former ScotPac senior govt Wayne Smith to help them with the subsequent section of progress.

Lindsay stated Smith was capable of convey each events collectively to discover the chance, which helped construction a deal that was useful for each events.

“WeDo was constructed on a easy mannequin of delivering bill finance in a clear and value-added means. We work with purchasers to make sure they get greater than they count on and it was refreshing to see that IFG share an analogous method which may be very consumer centric,” Lindsay stated. “We envisage will probably be enterprise as regular for the foreseeable future, although we’re enthusiastic about extra progress alternatives.”

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