Reward undergoes rebrand after record expansion

FINANCE firm Reward Finance Group, formerly known as Reward Capital, has invested in a rebrand after record expansion.

Tradehold, the company’s main backer, chaired by South African billionaire Christo Wiese, announced its trading results for the year ended February 2015 in which Reward’s income for the year increased by 25% to £5.1m.

This follows the completion of 60 deals nearing in excess of £20m, and a record first quarter for the business with 24 deals being completed in the first three months of its new financial year with £8m advanced.

Leeds-headquartered Reward also launched a dedicated trade finance arm becoming the only northern-based organisation in its sector to offer short-term capital, invoice finance and trade finance services.

The Reward Finance Group is now comprised of three trading arms; Reward Capital, which offers asset-backed short-term funding for businesses; Reward Invoice Finance, the provider of finance against a company’s sales ledger alongside overpayments secured against other assets and Reward Trade Finance, providing funds to acquire goods to meet a specific purchase order.

Dave Jones and Tom Flannery, the two partners that run Reward, have plans for further expansion in 2015 which will necessitate a move of its head office premises, recruitment of more staff to add to its 14 current employees and an upgrade in its IT platform.

Mr Jones said: “Successfully operating across the North of England, including the launch of our Manchester office in 2014, we have enjoyed great success, however, we felt that our rapid expansion, allied with the planned launch of Reward Trade Finance, has also necessitated the launch of an all-encompassing brand.

“We now have a group of businesses and the new Reward Finance Group brand ties in closely with our focus on market leading products, and first class services, to the SME community.”