25 March 2024
TruFin
plc
("TruFin" or the "Company")
Satago Financial Solutions
Limited ("Satago") announces the signing of a contract (the
"Contract") with Bank of Ireland Finance (the
"Bank")
TruFin is pleased to announce that
Satago, a leading provider of invoice financing and Lending as a
Service software solutions, has partnered with Bank of Ireland
Finance to allow small and medium-sized enterprises ("SMEs") in
Ireland, for the first time, to seek Invoice Finance via Sage
Accounting and Sage50 accounting software.
Powered by Satago, Sage customers in
Ireland will be able to access the Bank's Commercial Finance team
who have significant experience in providing working capital
solutions to businesses selling on credit. The first customer in
Ireland is expected to access finance during 2024, with customer
numbers growing in 2025 and beyond.
Satago has been collaborating with
Sage since 2018, integrating its products into Sage Accounting and
Sage 50 to offer customers automated invoice management, credit
insights, and finance solutions, enhancing business efficiency and
financial health.
Sinead McHale, Chief Executive Officer, Satago,
commented:
"I
am thrilled to announce this partnership with Bank of Ireland
Finance - another Tier-1 Bank. The Bank is doubling down on its
innovative approach to financing, ensuring SMEs in Ireland have
every opportunity to access financing. We are equally pleased to
have partnered yet again with Sage, the leader in accounting,
financial, HR and payroll technology. The technology integration we
have built with Sage can be rolled out globally and by partnering
with banking leaders in various jurisdictions we can extend the
reach we have - opening up access to thousands of SMEs
globally."
Derek McDermott, Managing Director, Bank of Ireland Finance,
said:
"We are excited to partner with Satago to deliver our Invoice
Finance product in an integrated way to customers on the Sage
platform. This partnership further supports our commitment to
delivering cashflow products to SMEs in the Irish Market and we
look forward to further developing the partnership with Satago and
supporting our customers well into the future."
The information contained within
this Announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No.596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019. By the publication of this Announcement via
a Regulatory Information Service, this inside information is
now considered to be in the public domain. The person responsible
for arranging for the release of this Announcement on behalf of the
Company is Annie Styler.
For
further information, please contact:
TruFin plc
James van den Bergh, Chief Executive Officer
Kam Bansil, Investor Relations
|
0203 743 1340
07779 229508
|
Liberum Capital Limited (Nominated Adviser and Corporate
broker)
Chris Clarke
Edward Thomas
|
0203 100 2000
|