Investment firm backs new commercial finance brokerage
Haydock-based investment management and advisory business, Seneca, has backed a new Bolton-based commercial finance brokerage, investing an undisclosed sum in its expansion plans.
Ping Finance helps small and medium-sized businesses and property investors throughout the UK to raise debt finance by introducing them to suitable lenders, based on their individual circumstances.
The company has relationships with a wide range of financial institutions, including banks and specialist lenders.
The firm, which boasts a strong online offering combined with deep lending expertise, specialises in invoice finance, stock and trade finance, property finance, and business loans.
Former asset-based lender and banker, Matt Robinson, is heading up Ping Finance.
He said: “The alternative finance market has never been more exciting.
“With many of the banks still reeling from the financial crisis, challenger banks and new entrants have filled the void.
“Technology is disrupting the industry and our aim is to create a modern solution for SMEs and property investors looking for finance.”
Seneca Partners is an award-winning specialist SME investment and advisory business employing more than 60 staff.
Formed in 2010 the management team has extensive experience across a range of sectors, including private equity, corporate finance, wealth management, accountancy and stockbroking.
Seneca Partners is also the founding member of the Seneca branded network of companies which includes Seneca Investment Managers, a Liverpool-based fund manager with more than £500m under management (as at March 31, 2018), Seneca Finance Limited, a property bridging finance provider with a loan book of more than £20m (as at March 31, 2018) and Seneca Property Limited, who originated more than £25m of property acquisitions in the 12 months to March 31, 2018.
