SME lender Fifo Capital has strengthened its commercial broker channel by appointing a new senior business development manager amid increased demand for smarter financial solutions like cash flow finance.
Brandon Robins (pictured above) will lead Fifo Capital’s corporate model expansion in NSW at a time when businesses are actively seeking efficient ways to power their operations and achieve sustainable growth.
“I am thrilled to join the Fifo Capital team, who are deeply committed to partnering with SMEs to discover smarter and more sustainable finance solutions,” Robins said.
Fifo Capital said Robins brought “valuable expertise” to the firm, with extensive experience in financial services and a “proven track record of empowering businesses” to effectively manage their working capital finance.
Emphasising the significance of adopting smarter financial strategies, Robins said that only 6% of Australian businesses utilised cash flow finance, compared to the UK's 60% adoption rate.
Recent research has shown that 43% of small-to-medium sized businesses anticipate growth in the year ahead, many of which are planning to access funding.
With more than 2.4 million SMEs in Australia, the market presents a significant opportunity for commercial brokers.
However, many small businesses lack the consistent funds and assets to meet the demands of traditional lenders.
Cash flow finance, also known as cash flow lending, is a form of financial arrangement that focuses on providing businesses with quick access to the cash they need to cover their day-to-day operating expenses or invest in growth opportunities.
It is primarily based on the expected cash flow of a company rather than traditional collateral, such as assets or property.
“There is an urgent need to address the underusage and misunderstanding surrounding the power and flexibility of this finance type, especially for SMEs,” Robins said.
Having contributed to the introduction of fintech lender Grapple into the Australian market in 2020, and with a background in various commercial finance roles at the major banks, Fifo Capital said Robins was poised to bring his solutions and strategic acumen to support “aggressive market expansion plans”.
"In today's economic climate, businesses require more than traditional debt offerings. We must embrace financial solutions that adapt to the unique needs of each business, empowering them to navigate challenges and seize growth opportunities,” Robins said.
Fifo Capital also helps address some of these challenges through its AI-driven working capital management platform Fifopay.
“With Fifopay, businesses gain greater control over their finances, leading to enhanced operational efficiency and a powerful driver for their success,” the company said.
Amid an environment where access to capital is pivotal for business survival and growth, Fifo Capital is poised to further its impact in the NSW commercial broker market by introducing a local corporate office.
The company said the move would enable Fifo Capital to enhance its capabilities and expand its funding offerings, providing even greater support to businesses in the region.
“We are dedicated to empowering brokers and their SME clients with essential tools and knowledge to enhance their service offerings,” Robins said.
“By assisting businesses in securing vital financing, we aim to fuel their growth and pave the way for success. This commitment seeks to create a transformative impact, enabling businesses to thrive amidst the ever-changing economic landscape.”
The move came after Fifo Capital expanded its presence in other states and boosted its broker market team late last year.
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