The Interface Financial Group Closes AUD$10,000,000 Revolving Open Ledger Invoice Finance Facility for Energy Company in South Australia

The Interface Financial Group (“IFG”) announced the closing and funding of a AUD$10,000,000 Open Ledger invoice finance facility for a Zen Energy, operating in South Australia.  The proceeds are being used to assist with their demerger from SIMEC Zen Energy Group and to finance further growth.

ZEN Energy offers renewable energy solutions to businesses & residents around Australia. ZEN is now working towards combing its renewable generation assets with battery and pumped hydro storage to provide its customers with a world-leading and competitively priced solutions that will provide renewable energy even when the sun isn’t shining, or the wind isn’t blowing. They were advised by SRG Partners Transaction Advisory.

IFG enabled ZEN Energy to bypass traditional debt sources and structures using their strong cashflow to support the funding required to complete the demerger. This also allowed ZEN Energy to continue trading without interruption to clients, the business and importantly its cashflow. The CFO of ZEN Energy Glenn Garnaut said:

“Congratulations all – this is a great milestone to receive the first funding under the new Open Ledger Receivables Facility with IFG. Thanks also to everyone on the IFG side who have been very professional and very focused on helping us to set up the facility in such a manner that we have successfully drawn down less than 2 business days after issuing our first batch of August invoices.” 

About The Interface Financial Group

The Interface Financial Group (IFG) is digital supply chain finance and digital invoice finance marketplace platform. The company serves clients globally in more than 30 and offers cross-border transaction facilities. With global international footprints and over 48 years of experience, IFG provides innovative early payment services and solutions to growing businesses.

IFG was founded in 1972 to provide short-term working capital to help small to medium-sized businesses grow.

https://www.interfacefinancial.com/