Propel named UK’s fastest-growing asset finance company

Propel Finance has been recognised for the fastest sustained growth by an asset finance lender from 2021 to 2024, having grown by 344% since 2021. This coveted title was awarded by Asset Finance UK 50, the in-depth report based on audited and publicly available accounts and the latest filing data from Companies House.

At the Asset Finance Connect Summer Awards, Propel also won AFC Equipment Finance Provider of the Year, sponsored by Solifi, underlining its commitment to excellence with leading technology partners.

Furthermore, Jennifer Bodey, Director of Compliance & Conduct Risk at Propel Finance, received the AFC Excellence in Compliance Award, sponsored by Shoosmiths, highlighting the company’s dedication to maintaining high standards of risk and regulatory practices and adherence to Consumer Duty alongside its impressive growth trajectory.

Propel’s growth is a testament to the company’s distinctive human-digital approach. By combining exceptional service standards and cutting-edge technology, Propel has revolutionised the ability for small and medium-sized businesses to obtain the finance they need to drive productivity and performance.

The company’s landmark partnerships with leading organisations such as Barclays Business Banking, Azets, and Samsung have opened up opportunities for over one million SMEs to access fast & flexible asset finance to boost investment and growth.

Propel’s strong performance over the past three years has been achieved despite a challenging period for the financial services sector and wider business economy, with supply chain issues, the cost-of-living crisis, increasing energy costs, rising inflation and higher interest rates all presenting headwinds for businesses large and small.

Mark Catton, CEO of Propel Finance, said: “We’re proud to be recognised by this prestigious award, which reflects the dedication and hard work of our exceptional team and the power of our innovative technology. We have a number of amazing strategic partnerships who trust us to support their customers with their capital investment requirements, from the latest technology devices to commercial vehicles and large plant & equipment assets. We have supported tens of thousands of businesses wanting to invest and grow.

“Our new PropelPay proposition will also allow global technology manufacturers, distributors and large merchants to offer SMEs fully digital finance at point of sale, whether in store or online, again supporting access to finance at the point of convenience for business customers. We have ambitious plans to continue our growth and impact in supporting UK SMEs with equipment finance.”