Radius gets multi-million pound funding joint bank funding

Bill Holmes

Logistics and fleet service provider Radius Payment Solutions has received a multi-million pound funding package as part of a joint-bank deal

The Crewe-based business is a leading fuel card provider offering payment solutions and telematics to the fleet and logistics sector, providing more than a million fuel cards and related services to fleets for upwards of 200,000 SME customers.

The business, which was founded in 1990, employs more than 1,000 people across the North West, Europe, the USA and Asia.

The funding package includes investment from funds managed by Inflexion Private Equity, valuing the business at £800m, which will help accelerate organic growth by supporting development in the existing business, expansion into new geographies and the continued diversification of their service offering.

Radius Payment Solutions has recently expanded its overseas operations and is also creating a £12m state of the art headquarters at Crewe Business Park in Cheshire.

As well as RBS, there were six other banks within the banking club.

Radius founder and chief executive Bill Holmes said: “We’ve achieved rapid growth of customer numbers and revenue over the last few years through the development of innovative new products and services, acquisitions and through expansion into new countries and markets.

“We’ve been exploring ways in which we can achieve the next stage of our growth, and believe the support from Inflexion Private Equity and the new banking club will support our future ambitions.”

Chris Yau, relationship director at RBS, said: “Radius Payment Solutions continues to go from strength to strength and is a leader within its market. This funding will enable the business to continue to move forward with new, innovative platforms for its customers in the UK and abroad. We look forward to working with the team at Radius Payment Solutions in the future.”

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