Payments Fintech Total Processing has received a £5m investment from alternative lender BOOST&Co.

The Manchester based firm reports a 244% rise in revenue in the last year, and has expanded since throughout the coronavirus lockdown and secured new offices in the UK, Dubai and Frankfurt.

Speaking of the investment, CEO Cameron Lee said: “We’re delighted to have secured funding to accelerate our growth across domestic and international markets.

“We plan to scale the business significantly over the next 12 months, providing over 30 additional jobs to the UK during a time of volatility across all sectors.”

The investment will be used to facilitate an anticipated expansion of resources for Total Processing’s enterprise-level clients.

Through the funding, Total processing has been able to scale up their resources in order to assist larger brands with the delivery of custom payment processing and gateway solutions.

Ryan Sorby, principal at BOOST&Co, endorsed further plans to expand into the MENA and European markets.

“Total Processing has a proven business model and as the business continues to scale, it still looks likely to deliver the triple digit growth it has seen year-on-year, which is incredibly impressive; the momentum is almost tangible,” he said.