Solifi, a fintech company specialising in providing secured finance solutions, has reported a “substantial” growth in 2023.
The company, which is celebrating 50 years in the secured finance industry, witnessed a 78% rise in software-as-a-service (SaaS) revenue.
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The company added a total of 14 new enterprise customers and completed nearly 230 customer projects last year, according to Solifi CEO David Hamilton.
Hamilton said: “From the outset, we have been committed to delivering scalable, secure, best-in-class solutions to the secured finance industry.
“In 2024 and beyond, we plan to continue executing against our vision, delivering growth and further enhancing our customer partnerships. I have no doubt that the years ahead will be even more exciting for our business, our customers, and our employees.”
Solifi was founded in 1974 in Minnesota, US, under the name Decision Systems, with its initial focus on equipment finance solutions.
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By GlobalDataLater, the company broadened its offerings to encompass a range of technology solutions for the secured finance sector.
This includes wholesale finance, automotive finance, and working capital, in addition to its original equipment finance services.
With more than 300 customers, Solifi operates on a global scale, maintaining dual headquarters in the US and UK.
The company’s international presence extends to regional offices in Austria, Canada, Australia, India and Germany.
Hamilton noted that the company has achieved sustained growth in the industry mainly due to client relationships, employees and a range of product offerings.
The company also launched its ‘Open Finance Platform’, which reflects its ambition to advance cloud-based solutions for mission-critical systems.
Solifi’s portfolio also includes a suite of SaaS solutions that cover the entire finance lifecycle, from point-of-sale origination to back-office servicing.
Last October, Solifi announced product enhancements for its asset-based lending software, Solifi ABL.
The releases included a range of new features focusing on automation, reporting, and customer experience.
