Boost Capital celebrates five years in the UK
Date: March 2017.
Leading small business financing platform Boost Capital celebrates its fifth anniversary of operating in the UK.
The anniversary coincides with Boost’s U.S parent company, BFS Capital, also celebrating its 15th anniversary year.
“The past 15 years have been truly remarkable. Across multiple economic cycles we’ve built a repeatable, sustainable model in the US and Canada. Boost Capital—celebrating its five-year anniversary—has become a high-performing financing platform for the UK’s small business market,” said Alex Littner, Managing Director of Boost Capital.
Since funding its first deal in 2002, BFS Capital has extended over £1.2 billion in financing, with more than 75 percent of its originations occurring in the last five years and over 25 percent taking place in the last 18 months.
In 2017, BFS Capital expect to fund more than £220 million ($300 million) in originations. Michael Marrache, CEO of BFS Capital commented, “Our sustained focus on small businesses’ financing needs and our continued expansion across key geographies (UK, US and Canada) will help us achieve this new annual high.”
Alex added: “We’ve stopped thinking about ourselves as an alternative finance provider. Instead, we aim to be the central financing partner for our customers. Both our new and renewal originations provide continued evidence that we’re on track with our customer-centric ambitions.”
Boost Capital was initially created to provide alternative financing to growing small businesses underserved by banks. Today, the company supports over 20,000 businesses across 400 industries as their primary provider of financing. In 2017, Boost Capital will also extend its efforts into data science and machine learning to improve risk profiling and process efficiencies.
Michael Marrache commented, “Our UK operation has grown rapidly over the last five years and is now an important component of our global strategy. We remain absolutely committed to supporting small businesses in the UK and to become firmly established as a recognised one-stop funding resource for small businesses.”
Alex Littner welcomed Michael Marrache’s comments, noting that, “The strong support and endorsement we have received from BFS Capital has proved vital for us in setting up Boost Capital in the UK. The BFS brand in the USA has become synonymous with helping small businesses fund their growth, and as we celebrate our fifth anniversary we are delighted to be extending the reach firmly into the UK.”
“The market continues to appreciate our small business customer focus, and as Boost Capital continues to grow we’ll make further investments in our product line-up, technology platforms and customer servicing to become a one-stop financing resource for small businesses across our footprint,” said Littner.
About Boost Capital
Boost Capital champions the growth and prosperity of small businesses by providing timely, flexible financing solutions. Boost Capital’s leading small business financing platform leverages customised underwriting and proprietary algorithms to fund businesses in the UK, and through its parent company, BFS Capital, in the United States and Canada. Boost Capital in the UK, US and Canada has provided more than £1.2 billion in total financing to more than 20,000 small businesses across more than 400 industries. For more, please visit www.BoostCapital.co.uk (U.K.) and www.BFSCapital.com (U.S., Canada)