London tech firm to bolster team with new finance deal
Software company EAMS Group has announced plans to expand its workforce after securing a £700k finance deal with HSBC UK.
The Canary Wharf firm, which specialises in providing asset management solutions to companies in the transport sector, will also use the money to help fund a takeover of Serbian software business Inspiresoft.
The deal was made possible through HSBC UK’s first use of its new Intellectual Property (IP) Lending Proposition. With most of EAMS Group’s assets lying in software and not physical assets, the bank used a unique valuation process to understand the hidden value of the organisation’s IP in order to provide the funds needed.
Commenting on the deal, EAMS CEO Andrew Evans said: “Our relationship director at HSBC was very helpful and signposted us to the correct product to match with our company’s profile. We are looking forward to establishing our additional European base and taking on more exciting projects, customers and employees thanks to HSBC backing our IP.”
Adding to this, HSBC UK’s area director for corporate banking in East London and Canary Wharf, Laura Murray, praised EAMS Group’s growth.
She said: “In the 12 years it has been in operation, EAMS Group has managed to expand rapidly with industry focused solutions now used around the world by a customer base that’s constantly growing.
“We are delighted to have used our new Intellectual Property Lending Proposition to enable us to support such an ambitious research and development start-up on its journey to expansion.”