Oxygen Finance (pictured) revealed it had completed its acquisition of Satago which will see the two businesses offer early payment, finance and cash flow solutions for both large buying organisations and suppliers and SMEs.

Satago currently provides cloud-based technology which integrates with an SME’s existing accounting software and claims to be the only finance provider which assesses and improves clients’ financial health as well as offering them finance.

Oxygen, meanwhile, gives larger public and private sector organisations the chance to pay suppliers ahead of contracted terms in return for a discount against their invoices.

Ben Jackson, CEO of Oxygen, said Satago’s offering was hugely complementary to it and the acquisition would help accelerate growth.

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“Oxygen’s early-payment solutions for large buyers – which facilitates payment to suppliers ahead of contracted terms – is the perfect partner for Satago’s proven business model of giving SME suppliers the tools in their native accounting applications to improve receivables management.

“Combining these capabilities, Oxygen and Satago will be well positioned to lead the market in delivering modern, integrated payment and receivable strategies for large buying organisations and their suppliers, SMEs included.”

Steven Renwick, CEO and founder of Satago, said its supplier-focused, single invoice finance facility was neatly complemented by Oxygen’s early-payment technology.

“We are really excited to combine the businesses to do more to help UK SMEs get paid even faster and improve their cash flow.”