Revenues up at Reward Capital

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ASSET-BASED lender Reward Capital reported revenues of £3.01m in the year ending February 28, up from £853,000 the previous period.

The Leeds company made an operating profit of £2.04m, up from £343,000.

Reward provided finance to more than 60 organisations in 2012 with an average deal size of £350,000.

Spokesman Dave Jones said: “We offer flexible and quick funding opportunities that are an 
ideal support for businesses which are still finding it difficult to secure finance from mainstream lenders.”

South African-owned Reward launched with an original fund of £7m in 2010.

It raised an additional £5m last year.