Wells Fargo Capital Finance announced the expansion of its Technology Finance lending capabilities in the United Kingdom. Steven Osborne, previously an underwriter with Burdale Financial Limited, also part of Wells Fargo Capital Finance, will lead the initiative for the London-based team to deliver financing to UK-based software and technology companies. Osborne has been named business development officer and director, and will serve as the primary point of contact for Technology Finance throughout the UK.

"Over the last 13 years, Wells Fargo Capital Finance has had great success helping both private and public software and technology companies access the financing they need to grow, whether organically or through acquisition," said Osborne. "While we have completed several transactions with UK software and technology companies, we look forward to expanding our local coverage."

The Technology Finance team provides senior secured financing to software and technology companies that need financing ranging from LIR5 million to LIR300 million and more. Financing structures are based upon a company's recurring revenues, cash flow, or a combination of both.

"Our approach -- lending against the value of software and technology companies recurring revenue stream -- has allowed our team to support more than 300 companies to date, including several UK and U.S. cross-border transactions," said John Leonard, head of Technology Finance for Wells Fargo Capital Finance. "Additionally, we've had great success working with private equity sponsors who have experienced our ability to commit substantial capital to support their portfolio companies."

"What sets Wells Fargo Capital Finance apart from other lenders is their lending approach. They base lending decisions on the value of the underlying business and not just typical credit metrics," said Jim McFarlane, CEO of Explorer Software. Explorer Software operates a group of software companies across the globe, including UK-based RedSky IT. RedSky provides software solutions to the construction industry in the EMEA region. "Wells Fargo's continued success and recognition stems from their ability to understand their clients business and provide financial solutions. We are proud to work with Wells Fargo."

Wells Fargo Capital Finance is the trade name for certain senior secured lending services of Wells Fargo & Company and its subsidiaries across the United States and internationally.