The nation’s second largest online invoice finance provider is undergoing something of a shake-up.
Co-Founder and prominent industry advocate Louise Beaumont recently hopped across to mother ship and institutional backer GLI Finance. And now her fellow Founder and CEO Colin Levins is also taking a step back, freeing up space at the top of the Platform Black hierarchy. Into this sudden void will step Caroline Langron – former Bibby Managing Director. Miss Langron brings with her three decades worth of experience in the invoice finance world.
Miss Langron sized up the platform that she’ll be joining:
“Platform Black’s invoice trading model has made it hugely popular both with businesses seeking flexible finance and investors seeking strong returns.
“The business has evolved from a technology-led alternative finance platform to become a significant source of working capital for British businesses. In its first month of operation in 2012 it advanced just £65,000 – it now provides several million a month.
“Platform Black’s talented team and I are committed to continuing that success, and we’ll be implementing an ambitious programme to ensure that growth is consolidated and sustained. By working in tandem with the high street banks and the British Business Bank, Platform Black is steadily moving from being an ‘alternative’ finance provider to become a major player in the mainstream finance community.”
Miss Langron takes the helm in the role of Managing Director – with instructions to lead the consolidation of Platform Black’s early-stage growth. The below graphic – supplied by AltFi Data – highlights the platform’s rapid expansion during the two years that followed its June 2012 launch.