HSBC UK pledges commitment to SMEs and entrepreneurs with tech partnership

Today (April 17), HSBC UK has revealed its partnership with London-based creative computer company Kano.

The deal will see HSBC UK support Kano with a £14m funding package to facilitate the company’s ambitious growth plans.

Roland Emmans, HSBC UK’s head of technology, said: “The technology sector is a key area of focus for HSBC UK, and we are looking to apply our global footprint to support the journey of high growth, entrepreneurial businesses - Kano fits that profile exactly.

“The UK EdTech market has the potential to be transformative, helping each and every student achieve their potential. These new tools and devices benefitting teacher-student interactions, job satisfaction for teachers and student outcomes.”

Since shipping its first ‘computer and coding kit for all’ in September 2014, Kano’s mission has been to give makers all ages the opportunity to understand, influence and create technology.

The agreement will help Kano to sustain year-on-year growth in 2019, provide a more flexible lending approach to its working capital cycle and further enable the company to respond quickly to the increasing demand for their products globally.

Nicolae Stan, HSBC UK’s relationship director for East London Corporate Banking Centre, added: “Kano is a hugely exciting company that educates the next generation to understand how technology is created.

“With a fun and simple approach, Kano encourages learning through play. The business has already seen sales grow dramatically year-on-year and we are thrilled to support the company with funding to aid additional global expansion.”

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