UK: Oxygen Finance buys SME alternative lender Satago

Oxygen Finance has acquired SME alternative lender Satago, with plans to combine the two companies’ services to begin offering early payment, finance and cash flow finance solutions to large and small businesses. Satago offers SME finance through the use of a cloud-based solution that integrates into an SME’s accounting software, while Oxygen tends to focus on larger corporations by offering an early payment discount service.

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 organizations and their suppliers, SMEs included.

Oxygen’s CEO, Ben Jackson, refers to the acquisition as complementary to the company’s growth and said in a statement: “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 organizations and their suppliers, SMEs included.”

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