The news is out – we’re going international! The WeDo group is excited to announce we’ve made a seven-figure investment in Brisbane-based finance company, inVOICE Finance Group (IFG).
We’re proud of our legacy of helping clients across the UK with our invoice and trade finance offering. Often, brilliant organisations find themselves held back by cashflow constraints and simply need a bit of support. It’s incredible to see the impact the team have had to-date in the UK to help clients realise their ambitions. On this journey, we’ve grown from a team of 4 in 2019 to over 100 today – with offices across the UK in Oldham, MediaCityUK, Sheffield, Bromsgrove, Swindon, and Colchester.
Now, we’re ready to make our first steps towards establishing a global presence.
IFG have been looking for an investment partner to help take them to the next level by adding new funding capability and new business finance products to their offering, which aligns with our mission to help organisations grow.
We’ll be taking our very same approach to finance in this new market. WeDo: Finance was launched in 2019 with a vision for approaching finance differently – underpinned by values of transparency, straight-up communication and forming real, lasting partnerships.
Mark, group chief executive of WeDo, said: “Our invoice finance business has been built on a simple model of delivering solutions in a transparent and value-added way, working with clients to ensure they get more than they expect.
“It was refreshing to see that IFG shares a similar approach which is very client-centric.
“The independent finance market in Australia is not as competitive as it is in the UK, and therefore we feel there is scope for IFG to expand significantly and develop additional service lines, much like our UK business has done in recent years. We are extremely excited by the opportunities and growth potential for IFG.”
IFG is a boutique business which husband and wife team Paul and Angela Tonges set up in 2011. It specialises in providing invoice finance to businesses across Australia.
Paul said: “As the founders, we are very excited about the next chapter of IFG’s growth strategy. We’re delighted to share a common alignment in our vision and values with our new investors, by continuing to exceed our customers’ expectations.
“This strategic investment will allow IFG to better service our existing clients and attract new customers by enabling us to offer a broader range of finance products and a larger deal size. With so many Australian small businesses desperate to fund growth, IFG will be able to assist many more SMEs.”