Independent Growth Finance (IGF)

What Independent Growth Finance (IGF) does

Independent Growth Finance (IGF) is a privately-owned UK specialty finance company that delivers bespoke asset-based lending (ABL) facilities to small and medium-sized enterprises and mid-market corporates with funding requirements between £2m and £25m. Founded in its current form in April 2016 following a management-led buyout backed by Spring Ventures and led by John Onslow, IGF has scaled from a £17m factoring book to over £600m of aggregate facilities under management as of March 2025, with 130+ active clients and peak funds-in-use exceeding £300m.

The product suite is structured around five core ABL offerings: revolving facilities against accounts receivable (up to 90% of trade debtor value), inventory finance (up to 85% of eligible stock), term loans secured on plant and machinery (up to 75%), structured amortising facilities against commercial property (up to 75% LTV), and cash flow loans for M&A and private equity-backed transactions. Underwriting is relationship-led and bespoke, with senior decision-makers engaged from day one and a stated 48-hour decision response. Go-to-market combines regional ABL Directors across London, Birmingham, Manchester, Leeds, Yorkshire, the South West and South Wales with a referral channel comprising corporate finance advisors, private equity firms, turnaround specialists, accountants and commercial finance brokers.

IGF is supervised by the Financial Conduct Authority and operates under the UK Finance Asset Based Finance Standards Framework. The senior leadership team is drawn from premier ABL institutions including Burdale, Wells Fargo, GE Capital, Centric Commercial Finance and Shawbrook Bank. The company is headquartered in Redhill with operational offices in London, Birmingham and Manchester, recorded FY2025 turnover of £35.7m (up 8% year-on-year) and pre-tax profit of £10.8m (up 44% year-on-year). The company celebrated the 10th anniversary of the Spring Ventures acquisition in mid-2026.

Name

Independent Growth Finance (IGF)

Legal name

Independent Growth Finance Ltd

Website

https://www.igfgroup.com/

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

51–100 employees

Short description

Independent Growth Finance is a privately-owned UK specialty finance company providing tailored asset-based lending facilities (typically £2m-£25m) to SMEs and mid-market corporates, with over £600m of aggregate facilities under management across more than 130 active clients.

Ownership category

akta.pro rank

Product category

Asset Based Lending / Specialty Finance

NAICS

Credit Intermediation and Related Activities (522)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Direct Lending — Asset-Based Lending (ABL) (FSAHAJAE)

akta.pro secondary industries

Middle-Market Lending (FSANADAI), Asset-Based Lending (ABL) (FSANADAD)

Keywords

• Asset based lending
• Invoice finance
• Working capital lending
• Specialty finance
• Mid-market lending

Headquarters

HQ city

Tonbridge

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Asset Based Lending Facilities: IGF provides tailored ABL facilities to UK SMEs and mid-market corporates with funding needs between £2m and £25m. Facilities are structured around the assets of clients including accounts receivable (up to 90% of trade debtor value), inventory (up to 85%), plant and machinery (up to 75%), property (up to 75% LTV), and cash flow loans. Revenue is generated through interest and fees on these lending facilities.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

IGF provides tailored Asset Based Lending (ABL) facilities to UK SMEs and mid-market corporates with funding needs between £2m and £25m. Facilities are secured against business assets — accounts receivable (up to 90% of trade debtor value), inventory (up to 85%), plant and machinery (up to 75%), commercial property (up to 75% LTV), and cash flow — supporting acquisitions, MBOs, working capital management, growth, refinancing, and turnarounds.

Product overview

IGF is an independent, privately-owned specialty finance company providing tailored Asset Based Lending (ABL) solutions to UK SMEs and mid-market corporates with funding needs between £2m and £25m. Their product portfolio consists of five core ABL offerings built around different asset classes: Accounts Receivable/Invoice Finance (up to 90% of trade debtor value), Inventory Finance (up to 85% of eligible stock), Plant and Machinery Finance (up to 75% of asset value), Property Finance (up to 75% LTV), and Cash Flow Loans. These structured, bespoke facilities deliver scalable, non-dilutive debt capital tailored to each client's unique financing needs for purposes including acquisitions, management buyouts, turnarounds, working capital management, growth, and refinancing.

Differentiator

Problem solved

Functional benefit

Products and services

• Accounts Receivable / Invoice Finance Revolving working capital facility based on outstanding receivables, providing up to 90% of trade debtor value. Targeted at UK SMEs and mid-market corporates with funding needs of £2m–£25m for working capital, acquisitions, MBOs, growth, refinancing, and turnarounds.
• Inventory Finance Asset based lending facility providing up to 85% of eligible stock value, ideal for businesses with seasonal swings or large stockholding needs. Flexible access to capital as stock levels change.
• Plant and Machinery Finance Term loan secured on existing equipment, providing up to 75% of asset value to support further investment or working capital needs.
• Property Finance Structured amortising facility releasing equity tied up in commercial property with flexible repayment terms, providing up to 75% LTV.
• Cash Flow Loans Lending facilities for businesses with strong financials, often used to support M&A and private equity-backed deals.

Quantifiable outcome

• 48-hour decision response time
• +1 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Lloyds Banking Group: UK largest commercial bank with a long-standing invoice finance and asset-based lending franchise, providing broader scale competition to IGF in the mid-market.
• HSBC UK Invoice Finance: Large incumbent UK bank offering invoice discounting and asset-based lending as part of a broader commercial banking franchise, with deeper pricing power but less bespoke structuring than IGF.
• Aldermore Bank: UK challenger bank with asset finance and invoice finance capabilities serving SMEs, overlapping with IGF's customer segment but operating as a broader deposit-funded bank.

Direct peers

• Bibby Financial Services: UK-headquartered invoice finance and asset-based lending provider serving SMEs and mid-market businesses with funding solutions of broadly similar scale. Direct overlap with IGF's receivables and asset-based lending products and target customer base.
• Shawbrook Bank: UK challenger bank with a specialist ABL and business finance division serving SMEs. Multiple IGF senior hires came from Shawbrook's ABL team, reflecting direct product and customer overlap.
• Ultimate Finance: UK independent specialist lender providing asset-based and invoice finance facilities to SMEs, with a similar funding size range and relationship-led origination model.
• Close Brothers Asset Finance: UK specialist in asset finance and invoice discounting for SMEs and mid-market corporates, offering receivables, plant and machinery finance closely comparable to IGF's product set.
• White Oak UK: UK alternative lender offering asset-based and SME finance solutions, including receivables and asset-secured facilities, competing in the same mid-market ABL segment as IGF.
• Praetura Asset Finance: UK-based asset and invoice finance provider for SMEs and mid-market businesses, including event-driven and structured facilities comparable to IGF's offering.

Emerging players

• Funding Circle: UK-focused SME lending platform, historically a marketplace lender now offering direct term loans to small businesses, adjacent to IGF's mid-market ABL rather than a direct ABL competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/igf-invoice-finance-ltd
• Xx.com/igf_group

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments22 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Independent Growth Finance (IGF)