As Christmas approaches and our thoughts move from spreadsheets and projections to turkey and presents, Syscap Managing Director Philip White considers the company’s highlights of 2015.
This year has been a defining one for Syscap. The company was purchased by new owner Wesleyan, opening up new opportunities for expansion. We celebrated a significant landmark: our silver jubilee, marking 25 years of trading. Syscap was also honoured to be recognised as ‘SME Champion UK’ in the 2015 Leasing Life Awards.
Purchase by Wesleyan
The 28 February 2015 was truly a seminal moment for Syscap; we concluded the sale of the company to Wesleyan. We had enjoyed eight years of private equity ownership which saw us through the testing times of the economic crisis, but the new shareholders give us access to increased capital and the opportunity to grow. It’s also a chance to nurture and develop our talented staff even more than we do now, as part of our wider development.
It is tempting to think that price is the only differentiator in the financial market, but people are prepared to pay for value. We listen to customers and develop products that truly meet their commercial and financial objectives.
As we grow, we will always keep the customer at the centre of the dial, whether they want a full account manager service or to access funding through an app. We’re planning to deploy in excess of £250m in the next financial year, helping SMEs to continue their role as the lifeblood of UK Plc.
We marked 25 years of trading with an amazing gala dinner in August, where customers, employees past and present and partners came together for a spectacular event. The party was great, but what is really important is the journey the business has taken. Looking back to 2008 and the depth of the financial crisis, we can be proud that we continued to trade and navigated our way through choppy waters.
Many companies failed during the financial crisis, including global players like RBS and Lloyds who needed state assistance. For Syscap, the characteristics that brought us success pre-crisis ensured our survival: strong commitment and will from our funders and partners and a dedication to the SME community, which requires sustainable funding for continued growth.
The road ahead – the UK’s SME Champion
It is fashionable to talk about the alternative lending market and Fintech right now. Syscap has been an alternative lender for 25 years – we’ve always been an alternative to banks. Banks are incredibly good at some things, but they cannot rival our deep domain vertical market knowledge and expertise. We truly understand the markets we serve.
As for Fintech, we’ve developed an online platform over the last 11-12 years, and now offer short-serve financial products for SMEs in a 24/7 self-serve online environment, including an app. In the year to come, we will continue to drive innovation and be disruptive.
On 3 December, we were proud to be named SME Champion UK in the 2015 Leasing Life Awards. This recognition of our improved funding levels, service and advice for small business customers was the icing on the (Christmas) cake of a very momentous and important year.
On behalf of Syscap, I wish all of our customers and employees a very Happy Christmas and a prosperous new year.