A Manchester debt and equity capital provider, which has supported the likes of Sorted, Peak and PixelMax, has hailed a record-breaking 2021 as it provided £253m to SMEs.
Praetura Group's lending division, which comprises Praetura Asset Finance, Praetura Commercial Finance, Praetura Invoice Finance and Kingsway Finance, finished the previous year on a £123m loanbook.
However, over 2021 the group grew its collective loanbook to more than £200m, marking its highest lending levels since it was founded in 2011 and a 62% increase from 2020.
READ MORE: Uber-backed Autocab eyes 200 new roles after moving to city centre landmark
Praetura Asset Finance and Kingsway Finance transacted over 1,000 deals during 2021.
Praetura Commercial Finance, which is one of the fastest-growing businesses in the group, saw a 70% rise in funding applications and wrote more than £82m of new facilities in the year.
Praetura Invoice Finance, which launched in September, has already attracted a large roster of clients from a range of sectors including construction, FMCG, manufacturing and supply.
Peadar O’Reilly, managing director of the Praetura lending division, said: "The rise of specialist finance has stemmed from businesses demanding greater flexibility from lenders.
"We’re so proud of what the team has achieved in 2021 and we’re excited to build on this success. Praetura lending businesses are targeting a combined £300m loanbook by the end of 2022."
Praetura Ventures invested in eight new portfolio companies including BankiFi, Coadjute and Maxwellia.
After supporting the business from seed stage, it also took part in Peak’s $75m Series C fundraise, led by global investment giant SoftBank.
Praetura is now looking to invest in 13 new early-stage businesses during 2022, taking its total portfolio to 35 businesses. A further three operational partners will be hired to support the portfolio.
The Praetura Group employs more than 100 people across three offices in the North West.
