Gwent-based finance firm Simply Factoring is celebrating a partnership with Scottish Pacific which coincides with an expansion to large offices in Caerphilly.

The new addition to its panel of funders, which includes high street banks and major PLCs, makes Simply Factoring one of the largest brokers of its kind in Wales.

Scottish Pacific is one of the biggest international providers of working capital solutions with more than 1,700 business customers across a number of industries, including manufacturing and wholesale.

Head of marketing at Simply Factoring Shaun Thomas said: “The partnership is a result of tireless efforts by our strategic development team, who since its inception in 2016 has enabled some of our largest Invoice Finance deals and borne a venture into complimentary services like payroll and development finance.”

The Scottish Pacific collaboration provides more financing options for customers in the areas of trade finance and supply chain finance.

Simply Factoring director Steven Adams said: "This demonstrates how Simply Factoring increases competition between funders, to enable us to offer the best possible borrowing rates for businesses.”

Simply Factoring, which is based at Gold Tops, Newport, but which is set to move to new premises in the centre of Caerphilly, aims to recruit 12 additional employees by the end of 2018, in addition to the five new team members since January.