Investec Asset Finance plc ‘Investec’ is proud to announce that it has now been trading for 10 years, cementing its position as one of the leading funders in the market.
Over the past 10 years, Investec has provided over £3billion in funding to SMEs and has consistently supported the UK intermediary market. The business has built a network of over 200 brokers and has won numerous industry awards, many of which recognise the market leading service provided to its intermediary network and their clients. Investec has also made considerable headway in raising the profile of asset finance amongst SMEs.
Since it was established in 2006, Investec has expanded through a combination of organic growth and strategic acquisitions. It has also broadened its specialist asset finance offering by establishing a materials handling division, which has a network of over 100 dealers, and a specialist office equipment funder CF Corporate Finance. Investec has also acquired Mann Island Finance, a vehicle finance brokerage and lender. In addition, Investec has launched a sister company and tier 2 funder, Quantum Funding Limited, which targets a broader range of sectors, assets and credit profiles. All areas have shown great progress and Investec expects strong, sustainable growth going forward.
Over 100,000 SMEs have dealt with Investec over the years, from a wide range of market sectors. This is because Investec considers deal values up to £10 million, which ensures that all sorts of businesses can more effectively manage their cash flow. Investec is also able to provide funding for corporation tax bills and a huge variety of assets, including: construction equipment, office equipment, commercial vehicles, plant and machinery – and is committed to widening this scope further.
Investec’s growth and success over the past 10 years is in part due to its long-term perspective on lending. Asset acquisition is infrequent for many SMEs, so the relevance of understanding the benefits of any financial structure is restricted to a specific point in time. This places emphasis on the point-of-sale, easily available points of reference such as specialist intermediaries, as well as a familiarity with funders and the various asset finance options available. Investec considers long-term financing needs, and its experience and consistency in the market substantiates its credible reputation.
By providing finance exclusively through the intermediary channels, Investec has also been able to establish long-lasting relationships with intermediaries and their clients. Investec hosts an annual broker conference and has made an active effort to support brokers and smaller, non-bank owned lenders, who are growing their own books by making block discounting readily available. This aspect of the business has now formed its own business line to support the intermediary relationships, and Investec is one of the largest providers of block discounting in the UK. A survey conducted in March 2015 of over 100 intermediaries revealed that Investec is the preferred finance company and has a good reputation with respondents feeling positive about growth of the market.
Strong relationships between funders and their intermediary partners will continue to be one of the main drivers for success, along with funders, intermediaries and trade associations raising awareness of asset finance for SMEs in order to grow the size of the overall market.
Mike Francis, Head of Investec Asset Finance, commented on the 10 year anniversary:
“I am delighted that the business has reached its 10 year anniversary and that growth continues at such a promising rate. This is a brilliant achievement and testament to the team’s hard work to develop the business and to provide a market-leading service to our intermediaries and their clients. More importantly, however, it is testament to our efforts to educate SMEs about the full range of finance options available and how to access them through specialist finance introducers.
Looking forward, we are confident that an increasing number of SMEs will utilise asset finance to help support the development and expansion of their business. We have ambitious plans to grow our book further and reach £1bn this year!”