Alternative finance provider Platform Black has appointed former Bibby head Caroline Langron as managing director.
Langron has three decades’ experience in invoice financing. For the last 10 years, she has held managerial roles at Bibby Financial Services, where for the last five years she was managing director of invoice financing. She was previously assistant director at Close Invoice Financing for 10 years, covering both invoice financing and factoring products, and also spent time at Barclays Factoring where she became department supervisor.
“I’ve been really surprised at the number of platforms out there, and how fast the alternative finance space is growing,” she tells GTR in an exclusive conversation.
“We want to do more of what we’ve been doing to grow the business. Next year, our target is to hit £8mn a month coming through the platform, meaning we could reach the best part of £100mn turnover next year, which’ll be fantastic.”
The platform allows companies to auction their outstanding invoices online to raise funds.
The platform allows companies to auction their outstanding invoices online to raise funds, and has reportedly advanced more than £80mn to British SMEs since first launched in 2012.
Langron takes over from Colin Levins and Louise Beaumont: both co-founders of Platform Black who’ll remain shareholders. Beaumont joins GLI Finance, a major holding company of Platform Black’s, as head of public affairs and marketing. David Robertson remains chairman of the alternative finance provider.
Commenting on the progress of the business, Langron says: “Platform Black has evolved from a technology-led alternative finance platform to become a significant source of working capital for British business. It now provides several million pounds a month, whereas in its first month of operation in 2012, it advanced just £65,000.”