Simply Asset Finance has reached £1.75bn in total loan origination since its launch in 2017, marking a significant milestone for the specialist business lender as it continues to scale its SME-focused operations.
The company reported £8.5m in pre-tax profit for the financial year ending 31st December 2024, alongside revenues of £60.4m, a 13% increase year-on-year. Its gross loan book reached £505m during the period, reflecting sustained demand for flexible, asset-backed lending.
Since inception, Simply has supported over 11,000 businesses and facilitated more than 22,000 agreements. The firm attributes its growth to operational scalability, strategic partnerships, and regional expansion. In May 2024, Simply migrated its loan book to Lendscape’s cloud-native open-API platform, and broadened its funding capacity through new agreements with Bank of America and the British Business Bank’s ENABLE programme.
Mike Randall, CEO at Simply Asset Finance, said: “FY2024 has been a year of milestone achievements, and only further underscores the strength of our platform and the demand we are seeing for flexible, SME-first finance. These results also reflect the successful execution of our strategy to expand our reach through multi-channel operations, building on a proven, profitable foundation and deepening integration with key partners. UK businesses showed remarkable resilience last year – even amid ongoing economic uncertainty and policy shifts like the announcement of changes to National Insurance and minimum wage. It’s in this environment, SMEs need more than just funding – but a partner that understands their challenges and can offer practical support to fuel long-term growth. Simply exists to do just that; empowering UK SMEs to reach their potential, and we remain fully committed to that mission. None of this success would have been possible without the dedication of our expert team and the trust of our partners and customers.”
Stefan Wolvaardt, CFO at Simply Asset Finance, added: “To deliver a healthy increase in profit during a year of economic uncertainty – while also surpassing a £1.75 billion total origination milestone – is a huge achievement. Through trusted strategic partnerships, we’ve successfully navigated a complex funding landscape while maintaining a clear focus on delivering the right solutions for our customers. We remain focused on profitable growth and are well-positioned to help even more businesses in the years ahead.”
