REG - TruFin PLC TruFin PLC - Satago wins contract with UK Specialist Lender

TrufinAnnouncement

18/07/2024 07:00

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RNS Number : 8439W  TruFin PLC  18 July 2024

18 July 2024

 

TruFin plc

("TruFin" or the "Company")

Satago Financial Solutions Limited ("Satago") announces a contract win with a
UK Specialist Lender

 

TruFin is pleased to announce that its subsidiary, Satago, a leading provider
of invoice financing and Lending as a Service ("Laas") software solutions, has
entered into a contract with a Specialist Lender to provide its customers with
invoice financing via Satago's proprietary lending technology.

Following the successful completion of an exploratory phase of work, Satago
will now provide technological and operational capability in order for the
Specialist Lender to make available additional lending products to both its
existing and prospective customer base. Under the terms of the contract, the
Specialist Lender will pay Satago a platform and servicing fee per customer,
subject to a minimum monthly fee.

Satago is expecting to onboard the first customers from the Specialist Lender
during 2024.

Sinead McHale, Chief Executive Officer, Satago, commented:

"We are delighted to win this contract. Making invoice finance accessible to
all businesses, regardless of their size, is one of our key strategic
objectives. Our innovative solution allows 'Greenfield' Lenders and Banks to
quickly and efficiently introduce a new lending product to their existing
offerings in a matter of weeks. Not only are Satago delivering a digitally
driven solution but we are also offering an alternative origination source via
our embedded finance platform - which is unique to the market."

 

For further information, please contact:

 TruFin plc                                                        0203 743 1340

James van den Bergh, Chief Executive Officer
07779 229508

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

Chris Clarke

Edward Thomas

 

TruFin plc is the holding company of an operating group comprising three
growth-focused technology businesses operating in niche markets: early payment
provision, invoice 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.

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