ArchOver has provided the first multi-channel peer-to-peer (P2P) business loan allowing TLM Technologies to borrow against current and outstanding invoices.
The loan uses two flagship funding models: Secured & Insured and Secured & Assigned. ArchOver launched this new joint model in February 2017, enabling high-growth companies to raise funds against their accounts receivable and contracted revenue.
In May 2017, an initial GBP1.1 million, split between two loans, was funded over the ArchOver platform. The first enabled TLM to exit their invoice discounting facility by providing GBP600,000 as a 12-month Secured & Insured loan secured against its accounts receivable. The second was a 12-month, GBP500,000 Secured & Assigned loan, based on TLM’s contracted revenues from software licenses and service maintenance contracts. A further GBP250,000 was funded over the ArchOver platform in July 2017 to support rapid business growth expected over the next six months.
ArchOver’s peer-to-peer lending services provided TLM Technologies with a personalised solution tailored to the needs of the business. ArchOver has enabled TLM Technologies to leverage the value in both its delivered and future contracted revenue, boosting its available loan amount and giving it the financial stability to move the business forward.
The funding secured using the ArchOver platform has transformed TLM’s position, freeing it from the constraints of invoice financing and enabling it to focus on growing its core business. It provides it with the certainty to plan for the future knowing it has the security of funds. In addition, no personal guarantees were required and additional financing was approved in a quick and seamless manner.
Prior to 2015, TLM Technologies was a small fuel pump maintenance business. Fast forward to today and its expertise within the convenience and fuel sectors (CFS) has firmly established the company as one of the UK’s technology success stories, supporting large-scale, blue chip clients including Costa Coffee and Sainsbury’s in making smarter, more profitable decisions.
TLM Technologies provides the critical services that retailers rely on to keep operational, offering electronic point of sale (EPOS), back office and head office systems designed to unlock the full potential of retail environments. As growth increasingly stems from technology support services, TLM Technologies is focused on introducing new features and functionality that cement its status as a market leader by developing new IP.
With more than 100 employees across the group and the acquisition of Ocean Dynamics equipping the company with in-house software development capabilities, TLM Technologies has the critical resources and development teams in place to scale up operations. However, its previous invoice finance facility was not flexible enough to keep up with the company’s rapid growth and investment needs.
“TLM is a fast-developing company with scope to expand overseas and cross over into targeted new sectors,” says Lee Papper, TLM CEO. However, our previous invoice finance facility was not able to meet our needs. We need a funding solution that can be as dynamic as we are so we have the flexibility and certainty to push our business to the next level.”