Midlands law firm advises on £14m invoice financing deal
A Warwickshire law firm has advised on a £14m funding deal to support faster invoice financing to the UK’s SME sector.
Lawyers at Leamington Spa-based Wright Hassall were drafted in to advise on the deal, which has seen invoice finance and credit management group, Pulse Cashflow Finance receive the £14m financing facility from direct lender Hadrian’s Wall Secured Investments (HWSIL).
The facility will support Basingstoke-based Pulse Cashflow in its goal to provide faster invoice financing to the SME sector, especially in the South East. The company works with businesses from start-ups to those needing finance facilities of up to £2m.
The deal includes an option to increase the size of the facility in the future as the firm grows.
Toni Dare, founder and managing director of Pulse Cashflow, said: “Our clients are good companies but face challenges as they have limited access to capital and this funding facility from Hadrian’s Wall will help us to continue to serve our clients and future clients who are looking to realise their business plans.”
HWSIL, which is listed on the London Stock Exchange, is a direct lender specialising in loans to SMEs and financing companies that, in turn, fund SMEs and small businesses in the UK.
Marc Bajer, CEO at Hadrian’s Wall Capital, the investment adviser to HWSIL, said: “Pulse Cashflow is the type of outstanding counterparty whom we seek to support as they build their business.
“Toni and her team of customer driven professionals impressed us with their knowledge and focus. We look forward to a long-term partnership with Pulse Cashflow which will allow us to achieve our mutual goal of providing finance to the underserved SME sectors of the UK economy.”
Wright Hassall acted for HWSIL Finance Co (a wholly owned subsidiary of HWSIL) on the deal.
Keith Ainsworth, partner, who led the transaction advise with assistance from associate Sophie Thornton, said: “We are happy to have acted for HWSIL Finance Co on this significant transaction. We look forward to seeing the growth in Pulse’s business that this new finance will promote.”
