Playter Set to Fund Over £100M for SMEs in 2024 Following a Year of Exceptional Growth

LONDON, Dec. 19, 2023 /PRNewswire/ -- For SMEs in the UK, Playter is rapidly becoming a name to recognise. As an innovative alternative funder, Playter specialises in assisting SMEs to manage their finances more effectively. The company offers a simple, yet innovative service: spreading the cost of bills over monthly instalments, while ensuring suppliers are paid immediately. The sign-up process is swift, taking about 2 minutes, with most applicants receiving a funding offer within 24 hours.

The year 2023 has marked a significant milestone in Playter's journey, witnessing an extraordinary 500% increase in lending and revenue, coupled with an impressive 1000% growth in loans disbursed. This surge in popularity comes at a critical time, as rising interest rates pose significant challenges for UK SMEs. Playter's credit funding offers a lifeline, providing businesses with essential cash flow to invest and grow.

Looking ahead to 2024, Playter is poised for even greater achievements. With plans to launch new products and a bold ambition to fund thousands of SMEs, the company's goals are ambitiously set. This year alone, Playter has successfully funded over 2000 businesses, creating over 600,000 days of flexible payment terms and progressing towards its global target of aiding 1 million SMEs. Playter's client base spans a diverse range of sectors, predominantly including professional and business services, manufacturing, and software, yet its solutions are adaptable to most industries.

The upcoming year promises to be exciting for Playter. The company is set to expand its payment options and scale new products, enabling B2B customers to offer even more flexible payment terms. This expansion reflects Playter's commitment to continual innovation and support for the evolving needs of SMEs.

In 2024, Playter will look to become the ultimate B2B payments provider, powered by Credit. Meaning they will be able to assist with funding both accounts receivable and payable, whilst allowing their customers to pay via multiple methods.

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