Platinum Funding UK Limited Provides £1,750,000 Injection of Capital To A Growing UK Software Company
October 22, 2008 – Platinum Funding UK Limited, a premier factoring company, announces the £1,750 million funding agreement with PrismTech Limited (“PrismTech”), a privately-held firm based in Gateshead Tyne and Wear. Platinum Funding UK Limited is an affiliate of Platinum Funding Group, a powerhouse of the accounts receivable factoring that offers outstanding alternative cash flow funding solutions to burgeoning high-tech and IT industries, among many others.
PrismTech has provided advanced software integration and infrastructure solutions since 1992. The company has established operations in UK, Germany, Netherlands and France, as well as the United States. PrismTech’s international customer base includes major systems integrators and original equipment manufacturers, banks and other financial institutions, manufacturers and utilities. Many of Prismtech’s customers are Fortune Global 500 companies.
This factoring facility with Platinum will help support PrismTech’s expected sales growth in the coming year. For many sectors, such as software and information technology (IT), recent changes in the UK credit market have made it increasingly difficult to obtain traditional financing. Invoice factoring is a prime source of alternative financing in the context of decreased liquidity and the credit crunch.
“We are excited about the traction that Platinum Funding has received in the UK market since beginning our operations here earlier this year,” noted Eyal Levy, Chairman and CEO of Platinum Funding Group.
In Addition, Prismtech’s US operations have entered into a $9 million accounts receivable factoring agreement with Platinum Funding Group, headquartered in New York City, earlier in 2008, building on an earlier accounts receivable financing relationship with Platinum.
About Platinum Funding UK Limited
Platinum Funding UK Limited, a leading factoring company, provides clients with accounts receivable funding, bridge funding, and accounts receivable management. Established in 2008, the company has been assisting companies with annual sales revenue between £1 million and £75 million. Platinum possesses the financial resources to serve the needs of clients across more than 30 industries, issuing same day advances on accounts receivable to newstart companies, fast growing companies, and companies in or just emerging for Administration. Through its US affiliate, Platinum Funding UK Limited has expanded services to include purchases of international receivables.
----------
To find out how Platinum Funding UK Limited can help you grow your business, call 01256 799780, visit our web presence at http://www.platinumfundinggroup.co.uk/ or send us an e-mail at http://www.platinumfundinggroup.co.uk/apply_now.php.
