Telco service provider, M2 Telecommunications Group (ASX: MTU), has joined with FlexiGroup Limited (ASX: FXL) to provide financing solutions.
According to the company's ASX statement, the agreement to provide customer financing will also cover wholly-owned subsidiary integrator, M2 Commander.
“Commander customers will benefit from being able to receive a single invoice for all of their Commander services and office equipment finance, further enhancing the commander value proposition to its target SMB market,” the statement said.
M2 CEO, Vaughan Bowen, said it created a shortlist of financing companies before partnering with FlexiGroup.
“In a climate where it is often difficult for SMB’s to obtain flexible, business critical finance solutions, the Commander and FlexiGroup partnership adds a further important dimension to the Commander customer proposition,” Bowen said. “We look forward to the benefits this partnership will bring to our national Commander dealer network.”
M2 bought out Commander’s SMB operations in June 2009 after it struggled with crippling debt and creditor pressure.
In August, M2 announced a massive net profit after tax increase of 119 per cent over 12 months to $16.16 million. Revenue also rose by 101 per cent to $406.11m over the same period.
M2’s Bowen was also listed as number 75 in BRW’s Young Rich List, joining a host of other tech company heads.