North Shields software firm to expand following £1m investment
North Shields software firm, Infotel UK Consulting is aiming to double in size with a £1m investment in new offices and recruitment.
Infotel UK began operating in 2015, delivering custom-made software and applications that help businesses improve their operations. The company aims to take advantage of increasing interest in its services from clients based in the region with the investment.
The company currently employs over 40 people and now aims to double in size in the next two years as well as adding to its customers which include Nissan Motor Manufacturing and Virgin Money.
The investment will be supported by a six-figure funding package from Lloyds Bank Commercial Banking.
Mundeep Nayyar, managing director of Infotel UK, said: “The technology sector in Newcastle is estimated to be worth almost £1bn and growing more than twice as fast as the rest of the economy.
“With access to leading blue-chip businesses that need Infotel UK’s services and nearly 25,000 students in higher education, the city is the ideal location to find and cultivate new talent and to grow a high-tech software business.
“It’s a perfect storm for investment as we look to offer more and better solutions to our clients while maintaining our dedication to quality customer service and delivery.”
As part of the investment, Infotel UK has moved operations from its site at Orion Business Park, North Shields to new offices in Balliol Business Park, Longbenton where it will establish its innovation lab and collaboration space.
The new office was officially opened on November 7 attended by Infotel’s founder and representatives from North Tyneside Council and the Department for International Trade.
Minister for Investment at the Department for International Trade, Graham Stuart, added: “With a wealth of investment opportunities across the UK and a growing economy, it’s no surprise that we are Europe’s number one destination for foreign direct investment.
“Newcastle is currently home to 25,000 students in higher education, and Infotel’s investment is further proof that the city is the ideal location in Europe to find and cultivate new talent and grow a high-tech software business.
“Utilising a network spread across more than 100 countries to scope out opportunities for British businesses, my international economic department is the focal point for [the] government to attract global investment, providing jobs and prosperity across all regions and nations of the UK.”
Infotel will also invest in growing its technologies - such as block chain and AI. It is also preparing to launch many projects in the Cloud with Amazon Web Services.