TruFin PLC Oxygen surpasses GBP1b in early payment provision
November 15 2022 - 2:00AM
RNS Non-Regulatory
TIDMTRU
TruFin PLC
15 November 2022
15th November 2022
RNS Reach
TruFin plc
("TruFin" or the "Company")
Oxygen Finance surpasses GBP1 billion in free early payment
provision to small business
TruFin is pleased to announce that its subsidiary Oxygen Finance
("Oxygen"), the leading early payments programme provider
headquartered in Birmingham, has processed more than GBP1 billon in
free early payments to small and micro businesses via its
ground-breaking FreePay scheme. More than GBP415 million of the
GBP1 billion was processed in the first 10 months of 2022.
Since launching in 2017 FreePay has enabled Oxygen's public
sector clients to pay more than 400,000 invoices early and for
free, improving cashflow and reducing financing costs to over
10,000 suppliers in their local economies.
Ben Jackson, Chief Executive Officer, Oxygen, commented: "We are
committed to creating social value and advancing corporate social
responsibility and I am delighted to see the boost FreePay has
given local economies in the last five years. Oxygen has led the
way in showing the difference that responsible payment practices
can make."
For further information, please
contact:
TruFin plc 0203 743 1340
James van den Bergh, Chief Executive
Officer Kam Bansil, Investor
Relations 07779 229508
TruFin plc is the holding company of an operating group
comprising four growth-focused technology businesses operating in
niche markets: early payment provision, invoice finance, IFA
finance and mobile games publishing. The Company was admitted to
AIM in February 2018 and trades under the ticker symbol: TRU. More
information is available on the Company website:
www.TruFin.com.
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END
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