TruFin PLC Satago signs contract with Bank of Ireland Finance

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 James van den Bergh, Chief Executive Officer Kam Bansil, Investor Relations	0203 743 1340 07779 229508
Liberum Capital Limited (Nominated Adviser and Corporate broker) Chris Clarke Edward Thomas	0203 100 2000

 

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