“Culture, values and momentum”: Mike Randall on building Simply and a 35-year career in asset finance

From industry experience to entrepreneurial leap

As Simply Asset Finance approaches its ninth anniversary, CEO Mike Randall reflects on a career spanning more than 35 years, but his focus remains firmly on what comes next.

While he could point to countless milestones across decades in asset finance, Randall is clear on the moment that stands above the rest.

“The most exciting moment,” he says, “was the day we started Simply.”

Launching the business in 2017 was more than a new venture – it was an opportunity to build a lender shaped by everything he had learned throughout his career. It was a chance to create something different: a business rooted in strong values, clear purpose and a better experience for SMEs.

That philosophy has been consistent since his earliest days in the industry.

“If you work with people who align with your values, it’s a great starting point. We worked with our people to help us define our values at the beginning, and we work together to ensuring they are upheld every day”

Over time, Randall has seen how the culture embedded in a business  can play out across organisations. Those experiences have shaped a leadership style that prioritises alignment, trust and shared direction above all else.

At the heart of it is a simple but powerful idea: “If you create the right spirit and momentum, you can become unstoppable.”

It is a mindset that continues to guide him; one built not on complexity, but on clarity, energy and belief.

Building a modern lender – and raising the bar

When Simply Asset Finance was founded, the goal was to create a more modern, more responsive lender for SMEs. Nearly a decade on, Randall believes the business has gone further than originally imagined.

“I think we’ve surpassed the original vision… but since day one we’ve worked hard to try and set a new benchmark on how  SMEs can get the access to finance they need.”

With more than £2 billion in loan originations and a loan book reaching £543 million in 2025, the company has scaled rapidly. Yet Randall is quick to stress that success is not a destination.

“We’re never going to think we’ve finished. We’re always looking to improve.”

That mindset is driven in part by the scale of the opportunity still ahead. Despite the size and maturity of the UK lending market, Randall believes SMEs are finding it increasingly difficult to access funding.

“In the last decade, it’s been more difficult for SMEs to get funding,” he explains.

At the same time, demand remains significant. Simply continues to bring on average more than 50% new customers each month – a trend that has remained consistent since launch.

With over 5.6 million SMEs in the UK, and Simply having served 14,000 of them, Randall sees enormous potential. “We’re scratching the surface… the opportunity is massive.”

Culture as the engine of growth

Despite the impressive growth metrics, Randall consistently returns to one defining factor behind Simply’s success: culture.

“The first thing we wrote down on that blank piece of paper was culture.”

Today, with 200 employees and further expansion planned, maintaining that culture is central to his role as CEO.

This focus on energy and environment is deliberate. Randall believes that when people feel genuinely connected to a business and its purpose, performance follows naturally. It creates what he describes as a “snowball effect,” a growing sense of momentum that drives both engagement and results.

The impact is tangible. “People come into the office and say, ‘you can feel the buzz.’ And that’s exactly what it is.”

That buzz of ambition, collaboration and shared purpose has become a defining characteristic of the business.

Technology with a handshake

Technology has played a critical role in enabling Simply’s growth, particularly in driving scalability. The business has now rolled out capability to selected channels with the ability to process applications from submission to payout in as little as eight minutes, without human intervention.

But for Randall, speed is only part of the equation. “We use the phrase ‘technology with a handshake’.”

Technology is developed to support our people in their day-to-day roles, enhance the customer experience and offer flexibility rather than forcing a single approach.

“There are customers who want everything done digitally, and others who want someone sitting at the kitchen table with them,” he says.

From mobile, on-the-go transactions to more personal, relationship-driven interactions, Simply has built a model that adapts to the needs of each and every SME.

“It’s not about whether it’s 50% tech or 50% people, it’s about how the customer wants to be served.”

Relationships still define success

For all the advances in automation and digital capability, Randall remains clear that relationships are still at the heart of asset finance.

He recalls a long-standing customer whose business grew from a single truck to a fleet of more than 250 vehicles. When asked why he remained loyal, the answer was simple: “I don’t deal with the company – I deal with Mike.”

That level of trust, Randall believes, is what defines a great lender. “It’s about ensuring that our customers know that we’re here come rain or shine”

This approach extends across Simply’s customer base. Whether supporting growth or helping navigate challenges, the emphasis is on staying close, being flexible and acting as a trusted partner.

Opportunity in a challenging market

The current economic environment presents no shortage of challenges, from uncertainty to persistent negative sentiment. Randall acknowledges the impact this has had on businesses across the UK.

However, he also sees a shift in attitude; “Back in Q4 we conducted research that found that around half (49%) of senior SME decision-makers were positive about the year ahead… they’re just getting on with it now.”

For lenders, this creates an opportunity to step up by providing stability, support and a more responsive approach to customer needs.

For those willing to innovate and remain close to their customers, Randall believes the potential remains significant.

Creating community through collaboration

Beyond the commercial success of Simply, Randall has also played a key role in strengthening the wider asset finance community. The Simply Cup – an annual charity football tournament – has grown into a major industry event. The 2026 Simply Cup raised an amazing £45,000 for Cancer Research UK.

Originally launched in 2022 as a small fundraising initiative following personal loss within the business, it now brings together teams from across the UK and raises tens of thousands of pounds each year.

“I stand in front of 300 people at the start of the Simply Cup and I tingle… it’s inspiring seeing the industry come together for such a worthy cause.”

For Randall, the event reflects a broader belief in collaboration: “There’s space and opportunity for all of us in this industry – and it’s better when we collaborate and come together.”

Looking ahead: growth without limits

Randall’s ambition for the future is clear – and unchanged.

“I want Simply to be the biggest finance company in the UK, supercharging a new era of SME lending – and I won’t stop until we get there.”

With offices across London, Liverpool, Glasgow and Belfast, the business is well positioned for further expansion. Future growth will be shaped by continued investment in technology, scalability and, crucially, maintaining the culture that has underpinned its success to date.

Adaptability will also be key: “If things come over the hill, we’ll be on it extremely quickly,” he says.

A passion that still drives performance

After more than three decades in the industry, Randall’s motivation remains deeply personal: “It’s not a job to me – it’s my passion.”

What continues to drive him is not just business growth, but people – watching teams develop, seeing customers succeed and playing a role in helping businesses thrive.

“I love watching people do well… that’s what it’s all about.”