Dublin-headquartered invoice finance provider Accelerated Payments is expanding its reach into the UK market through a tie-up with business funding brokerage Funding Friends.

Under the partnership agreement, Accelerated Payments will leverage Funding Friends’ referral network to roll out its invoice finance services to small and medium-sized enterprises (SMEs) and mid-cap companies in the UK, with funding lines ranging from €0.5mn-€10mn on a non-recourse basis.

“The partnership with Funding Friends highlights the broadening of our referral partner network, now working with brokers, banks, and financial and debt advisory firms with a clear focus on fostering an ecosystem where UK businesses can grow internationally – offering flexible working capital solutions that can be tailored to suit their needs,” says Lee Baty, Accelerated Payments’ head of UK.

“We are excited about this partnership as both firms have a solid approach to helping businesses grow globally,” adds Damian McGann, executive chair at Funding Friends.

Since its launch in 2017, Accelerated Payments has provided €1.5bn in financing for over 120,000 invoices, covering 450 clients and 1,800 debtors across 45 countries.

In April this year, it set up an inventory finance arm aimed at providing financing for SMEs to purchase goods from international suppliers, with a particular focus on companies operating in the US, UK, Ireland and Canada as well as the Americas trade corridor.