A Testament to Human-Digital Approach and Exceptional Service Standards
Propel, a leading asset finance company, has been honoured with the title of the fastest-growing company in its sector for the second consecutive year by Asset Finance UK 50. This accolade is a testament to Propel’s unique human-digital approach and exceptional service standards.
The company has seen phenomenal growth in recent years, with an impressive 56% growth in 2022 alone, and an astonishing cumulative increase of over 300% since 2020. Propel’s integrated approach of combining cutting-edge technology with outstanding service standards has revolutionised SME financing, enabling small and medium-sized businesses to access fast and flexible finance options.
With landmark partnerships including Barclays Business Banking, Azets, and Samsung, Propel has facilitated opportunities for over one million SMEs. These collaborations have been instrumental in providing fast & flexible asset finance that fuels investment and growth.
Harnessing Net-Zero Assets & ESG Investing
In an era where sustainability is top of mind for many businesses, Propel has taken a proactive stance by focusing on net-zero assets such as fully-electric vehicles and renewable energy systems.
In 2022 alone, Propel supported more than 14,000 new finance deals involving smaller firms – many of which were concentrated on unlocking access to these net-zero assets. This focus aligns with wider market trends of environmental sustainability (ESG) investing becoming a key driver of growth.
The Propeller Revolution
Propel’s commitment to innovation extends beyond its services. The company invested more than £6 million into creating Propeller – a proprietary technology that transforms the financing process. Propeller streamlines applications for SMEs seeking funding for their ventures.
Expanding Reach through Embedded Finance
Looking forward to expanding its reach even further in 2023-24, Propel is investing heavily in embedded finance. This innovative offering allows SMEs to access finance via E-comm and webshop offerings – particularly beneficial for technology purchases and smaller ticket assets.
Mark Catton, CEO at Propel Finance said: “Asset finance addresses numerous challenges for SMEs – from affordable investment into new assets to raising cashflow from existing owned assets; from supporting investment into latest tech assets to aiding ESG implementation. At Propel we work closely with business owners to support their investment choices.”
As we move towards more sustainable business practices, companies like Propel are leading the way by innovating within their industries while also contributing positively towards global environmental efforts. Their remarkable growth story is a testament not only to their effective strategies but also their commitment towards bettering our world through sustainable business practices.