A Manchester debt and equity provider, which has backed Sorted, Peak and PixelMax, hailed a 2021 record by providing £ 253million to SMEs.
The Praetura Group lending division, which includes Praetura Asset Finance, Praetura Commercial Finance, Praetura Invoice Finance and Kingsway Finance, ended the previous year with a loan portfolio of £ 123million.
However, during 2021 the group increased its group loan portfolio to over £ 200million, marking its highest lending levels since its inception in 2011 and a 62% increase from 2020.
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Praetura Asset Finance and Kingsway Finance closed over 726 transactions in 2021.
Praetura Commercial Finance, which is one of the group’s fastest growing companies, saw a 70% increase in funding requests and underwrote more than £ 82million of new facilities during the year .
Praetura Invoice Finance, which launched in September, has already attracted a large list of clients from a variety of industries including construction, FMCG, manufacturing and sourcing.
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Peadar O’Reilly, Managing Director of Praetura’s Lending Division, said: “The rise in specialty finance is the result of companies demanding greater flexibility from lenders.
“We are very proud of what the team has accomplished in 2021 and are delighted to capitalize on this success. Praetura’s lending businesses are aiming for a combined loan portfolio of £ 300million by the end of 2022 . “
Praetura Ventures has invested in eight new portfolio companies, including BankiFi, Coadjute and Maxwellia.
After supporting the company from the start-up stage, she also participated in Peak’s $ 75 million Series C fundraiser, led by global investment giant SoftBank.
Praetura is now looking to invest in 13 new start-ups during 2022, bringing its total portfolio to 35 companies. Three other operational partners will be hired to support the portfolio.
The Praetura group employs more than 100 people in three offices in the northwest.