Praetura Group launches invoice finance division on 10th anniversary

Praetura Group has launched a new invoice finance division designed to unlock flexible finance for SMEs.

Praetura Invoice Finance (PIF) will support UK-wide SMEs from a broad range of sectors by helping them to obtain funding against unpaid invoices. 

This aims to allow them to free up resources that can be used to fund working capital or reinvest in the growth of the business.

PIF will complement Praetura Group’s other lending divisions and will be led by Ray Lowrey (pictured above), who was appointed as the division's managing director.

Ray joins PIF from Bibby Financial Services, where he was a UK risk director.

Prior to this, he held roles at the Bank of Scotland and Volkswagen Financial Services.

“SMEs are the backbone of the UK’s future economic growth and their success, which is important post-pandemic, often depends on accessing flexible commercial funding that works for them,” said Ray.

“I’m delighted that PIF will further strengthen the firm’s reputation for going above and beyond with a ‘more than money’ approach that puts SME business owners first.”

Carl Finlayson and Lorraine Udale will be working together with Ray as sales director and operations director, respectively.

Prior to their appointments at PIF, Carl worked as head of business development at Aldermore Bank, while Lorraine spent 10 years at Bibby Invoice Discounting working in various roles, most recently as corporate risk manager.

The launch of PIF coincides with Praetura Group’s 10th anniversary.

The group, which includes Praetura Commercial Finance, Praetura Asset Finance, Kingsway Asset Finance and Praetura Ventures, has lent £500m to SMEs to date across a broad range of sectors, including transport and construction. 

Praetura Group has also invested approximately £48m in 40 early-stage businesses, with specialisms ranging from tech to life sciences.

The group’s lending division recorded its highest-ever lending levels of approximately £75m in Q1, with demand for funding continuing to rise.

Peadar O’Reilly, co-founder of Praetura Group, said: “Since 2011, it’s been incredible to see not only the growth of Praetura Group, but also the North’s growing reputation as a globally competitive destination for business growth. 

“We’ve been privileged to be part of the story, lending to more than 2,500 businesses from 80 industries and investing in 40 further exceptional businesses with our ‘more than money’ approach. 

“From landmark infrastructure projects to innovative new tech platforms, we’ve met thousands of pioneering businesses who have all contributed to the ever-changing UK economy.”

“We owe a great deal to everyone who has supported us and put their faith in the entire group; through their support, we’ve been able to grow our team to be over 100-strong and expand our reach through exciting new businesses like Praetura Invoice Finance. 

“It really is a milestone after what’s been a challenging 18 months for many businesses across the UK. 

“We’re excited for the next chapter, where we plan to expand into new markets, hire a significant number of new team members and launch a number of other new services. ”

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