Leeds payment processing firm Iliad Solutions has secured a six-figure lending facility from NatWest, using its intellectual property as collateral. The city centre firm will use the backing for working capital to deliver new international contracts and continue scaling its proprietary payments testing and certification technology.
Technology Powering Global Payments
Iliad's technology is used by banks, processors, fintechs and other financial institutions to test, certify and launch payment products. Its t3 platform creates a virtual testing environment, allowing organisations to validate card systems, real-payments, open banking, APIs and emerging digital currency technologies before they go live.
IP as Collateral
The NatWest lending facility has been structured around the value of Iliad's intellectual property. The firm's core assets are in software, expertise and innovation rather than physical assets which can be used as collateral. Under NatWest's High Growth IP-backed loan, applicants’ intellectual property is independently reviewed by Inngot, NatWest Group’s specialist IP valuation partner. The assessment helps the bank understand the value of intangible assets such as software, data, technology, brands and know-how when structuring lending facilities.
CEO and Bank Comments
Anthony Walton, founder and CEO of Iliad Solutions, said: “For growing companies like Iliad, addressing the global payments market, we occasionally need capital to maximise our exploitation of new opportunities. NatWest understands our business and the value of our IP. This allows them to back our ambition, leaving us to focus on growth and execution towards our aim to be the number one payment testing company in the world.”
Ben McMullan, relationship director at NatWest, said: "Iliad is exactly the kind of high-growth, innovation-led business this type of lending is designed to support. Many ambitious technology businesses do not have the traditional physical assets typically used as collateral, but they do have valuable intellectual property, proven products and strong growth potential. By taking the time to understand Iliad’s technology, strategy and ambitions, we were able to structure a financing solution aligned to the company’s next stage of growth. This transaction reflects NatWest’s commitment to helping innovative UK businesses unlock the value of their IP and access the capital they need to scale."
Impact and Growth Plans
Iliad Solutions, based in Leeds City Centre, plans to use the six-figure facility as working capital to carry out new contracts and as headroom as it grows. The funding will enable the firm to maximise exploitation of new opportunities in the global payments market, aiming to become the number one payment testing company worldwide.
