Close Brothers Invoice Finance: Company Profile
Background
Overview
Close Brothers Invoice Finance, a division of the FTSE 250-listed Close Brothers Group plc, is a leading independent provider of invoice finance services in the UK. Established in 1984, the company specializes in offering flexible funding solutions to small and medium-sized enterprises (SMEs), enabling them to improve cash flow and support strategic initiatives such as mergers, acquisitions, and business growth.
Mission and Vision
The company's mission is to provide innovative and tailored financial solutions that empower businesses to thrive. By offering bespoke funding options, Close Brothers Invoice Finance aims to be a trusted partner in the financial success of its clients.
Primary Area of Focus
Close Brothers Invoice Finance focuses on delivering invoice discounting, factoring, and asset-based lending services. These services are designed to release working capital tied up in unpaid invoices, thereby enhancing liquidity and supporting business operations.
Industry Significance
As a prominent player in the UK invoice finance sector, Close Brothers Invoice Finance has been recognized for its excellence and commitment to customer service. The company has received multiple accolades, including the 'Best Asset Based Lender' and 'Best Factoring & Invoice Discounting Provider' awards at the Business Moneyfacts Awards in 2024 and 2025.
Key Strategic Focus
Core Objectives
Close Brothers Invoice Finance aims to:
- Provide flexible and innovative funding solutions tailored to the unique needs of each client.
- Support business growth and strategic initiatives through accessible working capital.
- Maintain a strong focus on customer service and relationship management.
Specific Areas of Specialization
The company specializes in:
- Invoice Discounting: Confidential borrowing against unpaid invoices, allowing businesses to maintain control over their sales ledger and customer relationships.
- Factoring: Selling invoices to the finance provider, who then manages the sales ledger and collections, providing businesses with immediate cash flow.
- Asset-Based Lending (ABL): Secured lending against a range of assets, including invoices, stock, and equipment, offering businesses additional capital for growth and operations.
Key Technologies Utilized
Close Brothers Invoice Finance leverages advanced technology platforms to enhance service delivery, including:
- IDeal™ Platform: A fully automated invoice discounting management system that provides clients with real-time access to funds and a live view of available capital.
Primary Markets Targeted
The company primarily serves SMEs across various sectors in the UK, including manufacturing, distribution, professional services, and construction. By offering tailored financial solutions, Close Brothers Invoice Finance supports businesses in managing cash flow, funding growth initiatives, and navigating seasonal fluctuations.
Financials and Funding
Funding History
As a division of Close Brothers Group plc, Close Brothers Invoice Finance benefits from the group's strong financial position and access to diverse funding sources. The group's prudent approach to managing financial resources ensures stability and capacity to support a wide range of clients.
Total Funds Raised
Specific details regarding the total funds raised by Close Brothers Invoice Finance are not publicly disclosed. However, as part of Close Brothers Group plc, the company operates with substantial capital resources, enabling it to provide significant funding facilities to its clients.
Notable Investors
As a subsidiary of Close Brothers Group plc, Close Brothers Invoice Finance is backed by the group's shareholders, including institutional investors and private shareholders. The group's listing on the London Stock Exchange reflects its broad investor base.
Intended Utilization of Capital
The capital resources are utilized to:
- Offer competitive funding solutions to clients.
- Invest in technological advancements to enhance service delivery.
- Support business growth and strategic initiatives.
Pipeline Development
Key Pipeline Candidates
Close Brothers Invoice Finance continually evaluates potential clients across various industries, focusing on businesses seeking to improve cash flow, fund growth initiatives, or manage seasonal fluctuations. The company has a history of supporting diverse sectors, including:
- Construction: Providing funding solutions to facilities management firms to support expansion plans.
- Food Industry: Assisting food manufacturers with complex acquisitions and increased production capacity.
- Design and Manufacturing: Supporting manufacturers in refinancing invoice finance arrangements to maintain operations.
Stages of Clinical Trials or Product Development
As a financial services provider, Close Brothers Invoice Finance does not engage in clinical trials or product development. Its focus is on delivering financial solutions to businesses across various sectors.
Target Conditions
The company targets businesses experiencing:
- Cash flow challenges due to unpaid invoices.
- Growth initiatives requiring additional working capital.
- Seasonal fluctuations impacting financial stability.
Relevant Timelines for Anticipated Milestones
Specific timelines for client milestones are determined on a case-by-case basis, depending on the nature of the funding arrangement and the client's business objectives.
Technological Platform and Innovation
Proprietary Technologies
Close Brothers Invoice Finance's proprietary technology includes:
- IDeal™ Platform: An automated invoice discounting management system that offers clients real-time access to funds and a live view of available capital.
Significant Scientific Methods
The company employs data-driven risk assessment methodologies to evaluate client portfolios, ensuring prudent lending decisions and effective risk management. This approach includes:
- Risk-Based Portfolio Management: Utilizing advanced analytics to monitor and manage portfolio risk, enhancing decision-making processes.
AI-Driven Capabilities
While specific AI-driven capabilities are not detailed, Close Brothers Invoice Finance leverages advanced technologies to streamline operations, enhance customer service, and improve risk management.
Leadership Team
Key Executive Profiles
- Fiona Parkinson: Chief Executive Officer (CEO) of Close Brothers Invoice Finance. Fiona has extensive experience in the financial services sector and has been instrumental in leading the company's strategic initiatives.
- George May: Managing Director at Close Brothers Invoice Finance. George oversees the company's operations and has played a key role in expanding its services to support startups and SMEs.
- Matt Roper: CEO of Commercial at Close Brothers. Matt has been with the company since 2018 and has held various senior roles, contributing to the growth and development of the Invoice & Speciality Finance division.
Leadership Changes
Recent leadership changes include:
- Fiona Parkinson: Appointed CEO of Close Brothers Invoice Finance.
- George May: Appointed Managing Director at Close Brothers Invoice Finance.
Competitor Profile
Market Insights and Dynamics
The UK invoice finance market is characterized by a diverse range of providers offering various funding solutions to SMEs. The market is competitive, with companies striving to differentiate through service quality, technological innovation, and tailored financial products.
Competitor Analysis
Key competitors in the UK invoice finance sector include:
- Bibby Financial Services: Offers invoice factoring and discounting services, providing up to 100% of invoice values with funds received within 24 hours.
- Aldermore Bank: Provides invoice finance solutions with advances up to 90% of eligible invoices, supporting businesses in managing cash flow and growth.
- Hitachi Capital Business Finance: Offers up to 95% funding, with a focus on customer care and specialized relationship management.
Strategic Collaborations and Partnerships
Close Brothers Invoice Finance collaborates with various industry partners to enhance service offerings and support business growth initiatives.
