Company Announcements

Oxygen surpasses £1b in early payment provision

Source: RNS
RNS Number : 3634G
TruFin PLC
15 November 2022
 

15th November 2022

 

RNS Reach

 

TruFin plc
("TruFin" or the "Company")


Oxygen Finance surpasses £1 billion in free early payment provision to small business

 

TruFin is pleased to announce that its subsidiary Oxygen Finance ("Oxygen"), the leading early payments programme provider headquartered in Birmingham, has processed more than £1 billon in free early payments to small and micro businesses via its ground-breaking FreePay scheme. More than £415 million of the £1 billion was processed in the first 10 months of 2022.

 

Since launching in 2017 FreePay has enabled Oxygen's public sector clients to pay more than 400,000 invoices early and for free, improving cashflow and reducing financing costs to over 10,000 suppliers in their local economies.

 

Ben Jackson, Chief Executive Officer, Oxygen, commented: "We are committed to creating social value and advancing corporate social responsibility and I am delighted to see the boost FreePay has given local economies in the last five years. Oxygen has led the way in showing the difference that responsible payment practices can make."

 

 

For further information, please contact:

 

TruFin plc
James van den Bergh, Chief Executive Officer Kam Bansil, Investor Relations

 

 

0203 743 1340

07779 229508

 

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

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NRAFZMMMNDNGZZM