A Midlands-based provider of software, funding and services for the recruitment sector is entering a new phase of growth following the appointment of an experienced commercial director.
Tom O’Dell has joined the team at Flo Group in a new role created to expand the company’s invoice finance lending offer to its core recruitment sector customer base, and beyond.
It follows the securing of an £8million funding facility from Aldermore last year, which significantly increased Flo’s capacity to help more firms bridge the cashflow gap between paying staff and receiving payment from companies.
Over the past six months, Flo has focused on growing the business among its existing clients, enabling temporary recruitment agencies to access comprehensive operational support and cash flow finance from a single provider.
Tom’s appointment marks the start of a broader growth strategy that will see Flo actively exploring new customers and markets, including through commercial finance brokers, corporate finance and other professional intermediaries.
He brings more than two decades of experience in commercial finance and banking, including at Praetura Commercial Finance, Aldermore and RBS.
He said: “I’m delighted to join the team at Flo and look forward to helping the business through this next phase of growth. Flo has built a strong reputation over 13 years of supporting recruitment agencies with everything they need to launch, grow and scale, including services such as payroll, credit control, book-keeping, and more recently, invoice finance.
“The additional funding gives the business a stable platform for growth and we’re now ready to take that proposition to a wider audience, including as a standalone invoice finance facility.”
Flo is led by directors Nathan Golby and Phil McDonald, who come from accountancy and recruitment backgrounds respectively. And while the company will continue to focus on its existing areas of expertise, it plans to expand to other industries over time.
Nathan said: “Historically, much of Flo’s growth has come through referrals and existing customers. The next stage is to broaden our reach by working more closely with commercial finance brokers and intermediaries.
“There’s a real opportunity to bring our service-led approach to businesses that want a more flexible alternative to larger bank-style lenders. Having Tom on the team gives us that additional expertise to become a leading provider of invoice finance in the region, and we welcome him on board.
“We’re a close-knit team, operating under one roof, which means decisions can be made quickly and clients get direct access to the people delivering the service. As we grow the lending side of the business, that combination of personal service and integrated support will remain central to our proposition.”
