The past five years have seen the lender’s compound annual growth reach 52%, which has enabled the business to expand its team by 17% year-on-year.

The team now boasts 140 members in total with 10 new hires in the past month.

Simply has now funded over 32,026 assets for businesses across the UK, helping to finance over 6,800 customers.

In the first half of 2023, it added £42m to its loan book — a 10% increase on the previous six months — illustrating the ongoing demand for its lending and technology for SME customers.

In 2022 the business completed the development and rollout of its new broker platform, which was an addition to its end-to-end digital platform Simply Connect.

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Built from scratch by its in-house technology team, the new capabilities have been designed to give control and time back to brokers, while automating processes and removing unnecessary laborious paperwork.

Mike Randall, CEO at Simply, commented: “The strong growth of the business in the first half of 2023 demonstrates that [we are] continuing to fulfil the needs of SMEs across the UK.

“Moving forward into the second half of the year, we are continuing to invest in our technology and our people to ensure we are delivering a high-level of service to our customers and partners.

“The launch of our new office in Liverpool earlier this year is an exciting development for us and will help to further specialise our offering, while supporting the vital SME community in the North West and other regions across the UK.”