- Earlypay acquired Timelio’s assets and loan portfolio for approximately $3 million.
- Earlypay adds $40 million to its loan portfolio, including $35 million in invoice finance and $5 million in trade finance.
- Earlypay gains control of Timelio’s supplier early payment software platform, benefiting both large businesses and suppliers.
- Earlypay plans to expand the supplier early payment business and explore cross-selling opportunities with existing finance products.
- CEO James Beeson highlights the strategic value of the acquisition for SME working capital and commercial strategy.
- The acquisition is completed with a mix of cash and scrip, with a six-month hold-back period to offset credit losses.
- Earlypay’s refinancing plans for a new invoice and trade warehouse facility are set to resume by early 2024, pending approval and customary conditions.
