ORLANDO, Fla., Jan. 12, 2022 /PRNewswire/ -- For LSQ, a leading provider of technology-driven working capital finance and payments solutions, 2021 represented a year of significant platform, technology and partner growth and the company is entering 2022 riding a wave of momentum for future expansion.
Platform Growth
In 2021, LSQ FastTrack® more than tripled the number of customers (both supply chain finance buyers and sellers and accounts receivable finance clients) on the platform. In all, those customers processed nearly one million invoices totaling more than $5 billion through FastTrack.
"We are extremely proud that so many new companies came on board this year and trust us to help them meet their working capital and payments needs," said Vikas Shah, LSQ's Chief Revenue Officer. "LSQ is experiencing strong market demand as every business is thinking about embedding finance to strengthen their customer, supplier and partner relationships.
"This has become a must have in today's credit environment."
Product and Data Innovation
During 2021, LSQ launched a new version of its FastTrack platform to improve core functionality, security and user experience. Key improvements included the addition of sophisticated business unit segmentation, comprehensive payment automation, and enhanced credit-decisioning and risk-management capabilities.
Partnership Growth
A key new partnership with Esker and the deepening of an existing integration as a major accomplishment for LSQ in 2021. By embedding LSQ FastTrack into Esker Pay platform, customers can seamlessly implement working capital and terms and cash management solutions with minimal training for buyers and suppliers.
In 2021, LexisNexis CounselLink FastTrack doubled the number of customers using the platform. CounselLink FastTrack was launched in 2020 to help companies meet their working capital needs and lower legal spend.
"While it presented a number of challenges, 2021 ended up being marked by significant growth for LSQ and LSQ FastTrack across our platform, bank and broker ecosystem and services we offer to our clients," said Dan Ambrico, CEO of LSQ. "The strides we made in 2021 have put us in prime position to further assist with companies' working capital and payments needs in 2022."
To learn more about LSQ's 2021 highlights, please visit our blog.
About LSQ | lsq.com
LSQ has been deploying working capital solutions for more than 25 years, delivering more than $25 billion to thousands of small, medium and large enterprises. LSQ's breadth and depth of experience across a broad range of industries enables us to deliver value beyond capital. From manufacturing, energy, utilities and high tech, to healthcare, retail and professional services firms, LSQ delivers a unified platform for working capital and payments management that can deliver optimized liquidity and cash-flow management for any company. Learn more about our working capital and payments solutions at www.lsq.com.
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