Blue Finance has launched a new operative brand, Broaden. In addition to corporate lending, Broaden, which specialises in B2B financing, provides P&T financing for vehicle dealers.
Broaden, which focuses on corporate lending, will expand Blue Finance’s range of services from consumer credit to B2B financing. Broaden is the new operative brand of Blue Finance’s subsidiary Blue Finance Corporate Lending Oy and provides both corporate lending and P&T (Purchase and Trade) financing.
The new brand was brought about by a desire to expand and grow Blue Finance’s existing range of credit services and the company’s operations in Finland. The decision to launch a new brand was driven by a need to differentiate corporate services from the parent company’s consumer credit services. A distinct B2B brand will mean an enhanced customer experience for Blue Finance and Broaden customers since products aimed at different target groups can be now found under their own brands.
“Customer focus drives our business also on the corporate lending side, where instead of just providing finance to our customers, we want to be their reliable partner. Unlike traditional brick and mortar banks, we have the flexibility to tailor our services to individual customers,” says Petteri Menna, CEO of Blue Finance Corporate Lending Oy.
P&T financing provides opportunities for business growth
In addition to corporate lending for SMEs, Broaden’s product portfolio also includes P&T financing, which allows vehicle dealers to finance large vehicle purchases.
“On the B2B financing side, visibility and the future of the market are full of opportunities. As far as future growth is concerned, the P&T financing product in particular looks promising: even though we have now focused especially on providing P&T financing for the vehicle trade, the product is easily scalable. Going forward, we will be able to take the same product to retail customers of boats, mobile machines, motorcycles and other vehicles,” Menna says.
Broaden creates new opportunities for Blue Finance Group investors
The new lending company gives the Blue Finance Group opportunities to create growth also outside of the heavily regulated consumer credit market. At Blue Finance Group, diversifying the business along new tracks is seen as a positive move.
“For us, the new B2B financing brand is a great opportunity to grow on the home market since it allows us to serve different customers with new types of products. Unbundling B2B financing into a separate brand also allows us to serve customers distinctly and purposefully under both brands,” says Lauri Lehtonen, Blue Finance Group founder and CEO.
Visit Broaden at Broaden.fi.
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