The Newport-based firm increased its turnover by 130% between June 2014 and 2015 and said it is on track to grow by 230% by mid-2016.

In autumn Simply Factoring Brokers is set to open an Eastbourne office, while it wants to start opening more offices by the middle of 2017.

Steve Adams, its director, said: “Aggressive growth is our aim for the next two years.

“We know the market, we know what clients need and we have proven that our business model works.

“The next step is expanding our business in key locations that we already operate in. Having the physical presence in these areas will allow us to build on relationships with key introducers and clients that we are not yet fully maximising.”

The brokerage currently operates with six members of staff, but it plans to grow that to a team of 10 within the next 12 months.

Adams added: “Currently, we are placing 10 deals per calendar month; but with our expanding client list and brimming pipeline, this is forecast to increase to 15 by the end of 2015.

“By June 2016 we are projected to be hitting 20 – 25 deals per month. But by the time our second office is at its full capacity I would imagine we should be at around 30-40 deals PCM which will firmly place us as the UKs largest broker for this type of finance.”