Flo Group, headquartered in Staffordshire, has appointed Tom O’Dell as commercial director, bringing more than two decades of experience in commercial finance and banking.
The appointment follows the drawdown of an £8million funding facility by Flo Group just 12 months ago, significantly increasing the amount of invoice finance it can provide to recruitment businesses.
Flo has built its reputation supporting temporary recruitment agencies with a combination of software, payroll and support services. In recent years it has expanded into lending, allowing agencies to access operational support and funding through a single provider.
The increased funding capacity means the company can now provide lending to more firms, helping them manage the problematic cashflow gap between paying contractors and receiving payment from clients.
In the brand new commercial director role, Tom will be responsible for revenue growth, including expanding the company’s invoice finance portfolio and developing new customer relationships across the recruitment sector.
To date, most of the lending has been provided to businesses already using its software or back-office services. However, the new funding facility and leadership appointment will allow Flo to support a wider range of recruitment agencies as they scale.
Tom said: “Recruitment businesses face unique cashflow challenges, particularly when they are paying contractors weekly but being paid monthly by clients.
“Flo already supports agencies with their back-office operations, so being able to provide additional funding alongside those services creates a much more streamlined solution. We can also offer standalone invoice finance, for those simply looking to bridge that cashflow gap.
“I’m looking forward to helping Flo further expand this vital service to recruitment agencies across the UK.”
Tom brings two decades of experience in commercial finance and banking, including at Praetura Commercial Finance, Aldermore and RBS.
Flo Group Director, Nathan Golby, added: “The recruitment sector remains a core focus for Flo. We have worked in this sector for a long time, so we truly understand how agencies operate and what they need to grow.
“We provide a joined-up solution where agencies can manage payroll, back-office processes and funding all in one place. With the additional funding agreed last year, and now the appointment of Tom, there’s a real opportunity to bring our service-led approach to more recruitment agencies that want a flexible alternative to larger bank-style lenders.
“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.”
