In 2013, entrepreneur Rob Keown-Boyd joined forces with Chris Burt, an experienced CTO and Tim Marshall, a financial strategist, to bring the concept to life.
Rob and Chris understood what it took to launch and develop a technology business, having previously run and successfully sold a 250 employee organisation. Tim was an accredited financial executive with over 20 years of strategic risk and banking experience. Together they saw the opportunity to create something genuinely different – a smarter way to deliver working capital.
Pay4 facilities would not be secured against business assets, meaning they could be used alongside existing finance. Fees would only be payable as and when the customer chose to use the facility. And working capital would be delivered where it was needed most: providing credit to settle supplier invoices.
In short, choosing Pay4 would deliver simplicity and flexibility, to enable business growth.
Chris Burt, an experienced and innovative CTO and platform architect, designed and built the Pay4 supplier payment platform. His challenge: make it smart, but make it simple.
Tim Marshall, with decades of international experience in banking, risk and change management, was the perfect person to provide strategic and operational direction and to develop Pay4’s risk framework. Tim’s experience includes heading up a funded trust supporting the development of financial markets in Kenya and Head of Risk for RBS.
Innovative bank funding and insurance for Pay4 completed the development phase, and the official launch of the Pay4 credit facility was August 2014.
The Pay4 team has been built and nurtured since 2014. Each person has been hand-picked for their extraordinary expertise and their dedication provide the professional yet personal approach that has come to define the Pay4 way.
In May 2015, Pay4 won the endorsement of Santander UK, who signed a funding deal and referral partnership with us to enhance their own client offering. Through this, and also our relationship with the National Association of Commercial Finance Brokers, (NACFB) commercial finance brokers, and customer referrals, we’ve enjoyed phenomenal growth year on year.
Pay4’s growth is set to continue, as more business owners discover the smarter way to finance their supplier payments. We have achieved incredible quarterly growth in transactions of over 150%, establishing us as one of the mainstream working capital solutions for SMEs to consider.
Chris Burt, a hugely experienced CTO and platform architect, was brought in first to design and build the Pay4 platform, making the Pay4 concept a reality. His challenge: make it smart, but make it simple.
Tim Marshall, a Financial Services Executive with decades of international experience in risk and change management, was approached to provide strategic and operational direction to the wider business and to develop Pay4’s risk framework. Tim came from a donor-backed NGO in Kenya, following roles as Group COO for a three country SME Bank and Head of Risk at RBS Commercial Banking, to oversee the rollout of the model.
Rob, Tim and Chris then secured the bank funding and insurance to complete the Pay4 concept; not straightforward given the innovative nature of the Pay4 proposition.
They then started to build the wider Pay4 team, hand-picking the industry professionals and business experts they needed to provide the personal yet professional approach that has come to define the Pay4 way.
Since then the number of Pay4 customers has continued to grow at an ever-increasing rate. In 2015, our strategy and business model won the endorsement of Santander UK PLC, who signed a back-to-back funding deal and referral partnership with us to enhance their client offering.
Through our relationship with the National Association of Commercial Finance Brokers, independent financial advisers and strategic collaboration with Santander, we’ve enjoyed phenomenal growth year on year.
Thanks to our established online platform, robust risk modelling and rapidly increasing portfolio of successful customers, this is only set to continue as more and more business owners discover a new and smarter way to finance their supplier payments.
From that original concept back in 2013, we’ve now grown into a finance company of choice for aspiring, creditworthy growth businesses, with incredible quarterly growth in transactions of over 150%, establishing us as one of the mainstream working capital solutions for SMEs to consider.
Here at Pay4 we’re driven by the success of our customers. We measure our success as much in our customers’ growth as our own. With a 100% repeat transaction rate, we know that we’re providing what’s required to help their businesses prosper. Helping them to take control of their cashflow, improve stock levels, secure better terms with their suppliers and to seize opportunities for growth as they arise.
With a fully automated online process and a dedicated account manager on the end of the phone, it means you get the best of both worlds: quick and streamlined transactions plus excellent customer care. With approval ratings so high, we’re proud of the relationships we’ve built with our customers.
Our success is down to the uniquely simple and flexible solution that Pay4 provides. Read our customer stories to find out how Pay4 has helped businesses achieve the growth they deserve.
“We feel confident now that we can take on bigger customers on their terms and develop new products because we have the backing. It’s a tool that has allowed us to grow.”
“The main thing is being able to utilise stock as efficiently as possible and Pay4 has really been able to help us with that.”
“Everything has been plain sailing. The communication’s great, the platform’s great, the way everything’s been dealt with is perfect really!”
“It was refreshing that something that was going to be so beneficial was actually so simple to use”
“It's enabled us to improve our cash flow situation, improve our sales and improve our margins."