REG - TruFin PLC TruFin PLC - Satago signs contract with Bank of Ireland Finance

TrufinAnnouncement

25/03/2024 07:00

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RNS Number : 0556I  TruFin PLC  25 March 2024

25 March 2024

 

TruFin plc

("TruFin" or the "Company")

 

Satago Financial Solutions Limited ("Satago") announces the signing of a
contract (the "Contract") with Bank of Ireland Finance (the "Bank")

 

TruFin is pleased to announce that Satago, a leading provider of invoice
financing and Lending as a Service software solutions, has partnered with Bank
of Ireland Finance to allow small and medium-sized enterprises ("SMEs") in
Ireland, for the first time, to seek Invoice Finance via Sage Accounting and
Sage50 accounting software.

Powered by Satago, Sage customers in Ireland will be able to access the Bank's
Commercial Finance team who have significant experience in providing working
capital solutions to businesses selling on credit. The first customer in
Ireland is expected to access finance during 2024, with customer numbers
growing in 2025 and beyond.

Satago has been collaborating with Sage since 2018, integrating its products
into Sage Accounting and Sage 50 to offer customers automated invoice
management, credit insights, and finance solutions, enhancing business
efficiency and financial health.

Sinead McHale, Chief Executive Officer, Satago, commented:

"I am thrilled to announce this partnership with Bank of Ireland Finance -
another Tier-1 Bank. The Bank is doubling down on its innovative approach to
financing, ensuring SMEs in Ireland have every opportunity to access
financing. We are equally pleased to have partnered yet again with Sage, the
leader in accounting, financial, HR and payroll technology. The technology
integration we have built with Sage can be rolled out globally and by
partnering with banking leaders in various jurisdictions we can extend the
reach we have - opening up access to thousands of SMEs globally."

Derek McDermott, Managing Director, Bank of Ireland Finance, said:

"We are excited to partner with Satago to deliver our Invoice Finance product
in an integrated way to customers on the Sage platform. This partnership
further supports our commitment to delivering cashflow products to SMEs in the
Irish Market and we look forward to further developing the partnership with
Satago and supporting our customers well into the future."

 

The information contained within this Announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No.596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019. By the publication of this Announcement via a Regulatory
Information Service, this inside information is now considered to be in the
public domain. The person responsible for arranging for the release of this
Announcement on behalf of the Company is Annie Styler.

 

For further information, please contact:

 TruFin plc                                                        0203 743 1340

James van den Bergh, Chief Executive Officer
07779 229508

Kam Bansil, Investor Relations
 Liberum Capital Limited (Nominated Adviser and Corporate broker)  0203 100 2000

Chris Clarke

Edward Thomas

 

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