Acquisition advances non-bank’s growth plan
Cashflow Finance has finalised the purchase of the Classic Funding Group (CFG), making it one of the largest non-bank lenders in Australia specialising in trade, invoice and equipment finance.
The acquisition was first announced on 9 September 2019.
CFG is a financial services company with over 25 years’ experience in providing asset finance solutions across both equipment finance and invoice discounting.
Cashflow Finance is a subsidiary of CML Group. The acquisition will accelerate CML’s strategy to gain market share in the offerings developed in-house and launched over the last two years.
“We are excited by the acquisition and the growth we are achieving organically,” said CML Group CEO Daniel Riley.
“We are confident that the acquisition will stimulate our business even further and we look forward to reporting on our progress through the year.”
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