Swindon & Wiltshire News
Funding provider 365 Finance opens Bristol office as demand for finance surges 200 per cent
Funding provider 365 Finance has opened a South West office in Bristol following a surge in demand for support.
The London-headquartered company says there has been a 77 per cent year-on-year increase in SME funding in the South West of England in the last 12 months, and more than 200 per cent over the past three years.
The revenue-based finance provider also reports that businesses in the South West are obtaining for 20 per cent more on average.
Hospitality businesses dominate the top five sectors in the South West region opting for fast and flexible business finance, over the last 12 months.
Food retailers and non-food retail outlets follow closely, with the top five rounded off by MOT garages:
1. Pubs and bars
2. Restaurants
3. Food retailers and convenience stores
4. Non-food retailers
5. MOT garages
The firm recently opened an office on Redcliffe Way with a team of five led by strategic partnerships director Chris Thorne.
Warren Abbey, 365 finance CEO, said: “We support SMEs across the whole of the UK, and traditionally have done so from our well-established London office.
“However, with rising demand in the South West for our Rev&U revenue-based finance, it has made sense for us to open our new secondary office in Bristol, which is yet another exciting development for us as a business this year.”
Chris Thorne added: “Bristol has developed into a bit of a fintech hub in recent years, which is another reason why having more of a presence here works well strategically for 365 finance.
“Our expectations of the Bristol team include productivity doubling, as well as faster funding in the coming months.”
365 finance offers qualifying SMEs £10,000 to £400,000 of funding. AI-powered automated underwriting means funding can be approved in less than 24 hours.
