RCS - TruFin PLC - Oxygen surpasses £1b in early payment provision

TrufinAnnouncement

15/11/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221115:nRSO3634Ga&default-theme=true

RNS Number : 3634G  TruFin PLC  15 November 2022

15th November 2022

 

RNS Reach

 

TruFin plc

("TruFin" or the "Company")

Oxygen Finance surpasses £1 billion in free early payment provision to small
business

 

TruFin is pleased to announce that its subsidiary Oxygen Finance ("Oxygen"),
the leading early payments programme provider headquartered in Birmingham, has
processed more than £1 billon in free early payments to small and micro
businesses via its ground-breaking FreePay scheme. More than £415 million of
the £1 billion was processed in the first 10 months of 2022.

 

Since launching in 2017 FreePay has enabled Oxygen's public sector clients to
pay more than 400,000 invoices early and for free, improving cashflow and
reducing financing costs to over 10,000 suppliers in their local economies.

 

Ben Jackson, Chief Executive Officer, Oxygen, commented: "We are committed to
creating social value and advancing corporate social responsibility and I am
delighted to see the boost FreePay has given local economies in the last five
years. Oxygen has led the way in showing the difference that responsible
payment practices can make."

 

 

 For further information, please contact:

 TruFin plc                                                                    0203 743 1340
 James van den Bergh, Chief Executive Officer Kam Bansil, Investor Relations

                                                                               07779 229508

 

TruFin plc is the holding company of an operating group comprising four
growth-focused technology businesses operating in niche markets: early payment
provision, invoice finance, IFA finance and mobile games publishing. The
Company was admitted to AIM in February 2018 and trades under the ticker
symbol: TRU. More information is available on the Company website:
www.TruFin.com.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAFZMMMNDNGZZM