Software provider secures £20m loan to launch new technology

Proactis Holdings, the global spend management and B2B e-commerce solution provider, has secured £20m in funding from HSBC UK to bring to market new technology to help SMEs access working capital.

The Wetherby-based business will use the funding to roll out proprietary technology that will deliver “frictionless cash flow” between businesses.

Proactis said the technology accelerates and incentivises payments, helping SMEs to invest in growth through improved liquidity.

The technology will also help larger businesses manage their supply chains, easing the impact on working capital and improving their relationships with suppliers.

Anthony Persse, financial solutions director at Proactis, said: “There is a disconnect in the current payment culture that benefits neither buyers nor suppliers. It stymies investment as well as working capital.

“We have been exploring technologies that can improve access to working capital by accelerating payments to suppliers. Our approach will disrupt traditional funding solutions that are not addressing the real needs of businesses. Through our accelerated payment technology, we will re-establish positive business practices through effective collaboration and simple access to cash.”

Proactis will launch the Accelerated Payment Facility later this year.

Wayne Shadlock, global relationship director at HSBC UK, added: “We began working with Proactis over 15 years ago and this is yet another example of its innovative thinking. We have a keen understanding of the benefits of accelerating payments through the supply chain and the new technology is both scalable and unique to Proactis.

“The business is well positioned to drive widespread access to liquidity for SMEs, which will ultimately boost cash flow and support economic growth.”