Financial services firm in €250 million SME boost

A financial services provider has agreed a €250 million deal to strengthen global operations.

Bibby Financial Services is set to expand SME support across Europe and Asia.

The move follows HSBC UK backing.

Bosses say the deal extends an existing partnership and will allow Bibby Financial Services to maintain a total capacity of more than £1.1 billion in available funding to support SMEs.

Bibby Financial Services – which employs 1000 staff across Europe and Asia – will additionally access HSBC’s global trade solutions team, which includes staff across 50 countries and territories.

The operator, which is headquartered in Adderbury, Oxfordshire, supports more than 8500 businesses in domestic and international markets through invoice finance, asset finance and foreign exchange services. 

Theo Chatha, Bibby Financial Services’ chief financial officer, said: “Access to flexible working capital remains a key challenge for businesses across Europe and Asia.

“We are delighted to extend our partnership with HSBC, which provides us with significant capacity to ensure SMEs can access the funding they need to compete and grow.” 

Bruce Richards, HSBC UK head of strategic transactions – global trade solutions, added: “The new pan-Eurasian facility provides back-to-back receivables financing across seven jurisdictions and will enable Bibby Financial Services to continue to grow its support for small and medium-sized businesses.”

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