Peter Tuvey
Alternative finance and Fintech entrepreneur
"Think big, be ambitious, and look to the future, but always be mindful of the challenges directly in front of you. The path to success almost always requires a great many carefully placed steps."
About Peter Tuvey
Peter Tuvey is an experienced entrepreneur, business manager and investor, with a long history of delivering results through a combination of innovative product development, software automation, and operations management. His management style places great emphasis on research and development cycles, bringing new products to market quickly, and focusing heavily on making iterative improvements to all aspects of a business.
In the business and consumer finance world, Tuvey is an investor, founder, and managing partner of the Alterium Group, and all of its subsidiaries. Since its inception, Tuvey and the other senior members of the Alterium Group have grown its flagship brand Fleximize into one of the largest and most innovative business lenders in the UK.
Business Management
Peter Tuvey is an accomplished leader whose journey into business management begun almost as soon as he left school. Before moving into the finance world, Tuvey rapidly gained a reputation as a natural leader while working in the mobile communications sector. He became the youngest person ever to be appointed a Phones4U store manager at just 17 years of age, and was an area manager at Vodaphone by the age of 19.
Tuvey then moved into insurance and claims management before helping to establish The Fortress Group in Bury St Edmunds. He was presented with a prestigious employee-of-the-year award at the Houses of Parliament, after working to target youth unemployment in Cambridge, while working in collaboration with the Job Centre, the YMCA, and numerous other charitable organisations.
Consumer Finance
In 2009, Tuvey stepped away from the Fortress Group, forming his own finance company, and beginning a period of focus on the business and consumer lending spaces. Entering into a highly competitive market, Tuvey realised that he needed to grow his businesses at pace. He rapidly built two successful consumer finance brands, employing over 200 staff members globally, and establishing the UK's fourth largest short-term lending business.
Day-to-day, Tuvey led the businesses himself, overseeing the creation of all key processes and departments, from risk and compliance, to collections, and marketing, to the development of bespoke software platforms and market-tailored underwriting processes. Three years later he successfully exited both of his consumer finance businesses through acquisition.
Technology-First
Peter Tuvey firmly believes in blending innovative finance technologies with world-class customer service, to produce well-honed businesses capable of scaling at pace.
Throughout his career, he has been a leading player in the UK's fintech revolution, collaborating hands-on with development teams to deliver a vast array of front and backend financial services tools, bespoke loan management applications, and highly-tailored CRM platforms.
Fleximize
At the end of 2013, Tuvey met with Max Chmyshuk and Daniel McPherson to discuss the barriers to funding many small and medium-sized businesses face. After collectively investing in other ventures together, the trio decided to form Alterium, a business finance house whose primary customer-facing brand Fleximize would offer flexible finance to creditworthy SMEs facing challenges such as bank turnaround times and acceptance rates.
Since the inception of Fleximize and Alterium, Tuvey has once again worked to scale at pace, leading the formation of all business departments and key positions, and working closely with his appointed senior management team to ensure strategic alignment and operational efficiency. As of 2016, Fleximize has won numerous industry awards, employs around 50 staff, and has lent in excess of £30 million to 800 UK-based SME businesses.
The Alterium Group
Besides Fleximize — which predominantly provides funding up to several hundred thousand pounds for established businesses — Tuvey is also a key player in all of its sister companies in the Alterium Group.
Alterium's other subsidiaries include Flexipay, a business finance option for early-stage startups, and Fleximize Technology Services, a financial services software development company responsible for building many of the backend technologies used in the consumer and business finance market, and capable of delivering bespoke solutions on demand.
The group also owns Alterium Capital, which offers business finance to high-value companies looking to source large funding lines, typically extending to millions of pounds.
Press and Media Featuring Peter Tuvey
Describing his company as 'tech-focused, but relationship-driven', Peter Tuvey talks to is4profit about running his alternative finance business Fleximize.
Lending to SMEs has never returned to its pre-financial crisis levels. Peter Tuvey, discusses the bank referral scheme and how alternative finance can benefit SMEs.
When it comes to growing a successful business, Tuvey believes you should "surround yourself with successful people, internally and externally".