Venturi Ltd a specialist IT recruitment agency has secured £300k of financing through one of the countries top independent Invoice Financing and Asset Based Funding companies. This great gain in capital will allow the
Wilmslow-based agency to grow rapidly into its second year of trading.
Through the funding, Venturi Ltd has increased its staff by 60% and moved to its own premises in Wilmslow.
“Invoice finance is a vital part of running our business, but our previous provider wasn’t giving us the best service and financial support. The Lender approached us at just the right time, providing us with extra funding and bad debt protection, enabling us to hire more staff and improve our back office systems,” Brad Lamb, managing director at Venturi Ltd, said.
“The funding has had an extremely positive influence on our business, helping us to keep clients happy with more flexible, regular payments. It has also helped us double our turnover to over £3m putting us in a great position for future recruitment and growth.”
Venturi’s new property is twice the size and has gained capital by accessing the funds tied up in invoices. They will now have more access to funding, which allows the rapid growth of the company.
Nick Russell, business development manager comments: “It’s exciting to support a dynamic small business with as much growth potential as Venturi Ltd.
“We were able to get the ball rolling quickly by helping Venturi to pay its previous provider’s exit fees. We can now give the company rapid access to working capital, allowing them to seize any growth opportunities that come along.”
Asset based funding is a great way to gain capital quickly and allow your business to grow. Every good business person knows you have to spend some money to gain some money which will in turn help your company to grow.