Leeds communication firm secures over £1m funding from London fintech
A Leeds-based communications provider has secured over £1m in funding to boost its acquisition strategy.
Fintech specialist ThinCats has facilitated the funding for The Technology Group, enabling the firm to acquire a second Yorkshire base.
The Technology Group specialises in a unified communications portal that provides services such as voice, video, chat and screensharing. This latest funding will allow the firm to work towards its ‘Vision 2022’ target of £15m turnover.
Ben Slack and Andrew Curtis of Leeds-based firm Clarion provided legal support to ThinCats as part of the funding deal.
Commenting on the funding: David Marsden, co-founder & acquisitions director for The Technology Group, said: “Our ambitious, yet highly achievable four-year growth strategy – one acquisition per year – will see us treble our turnover.
“This funding from ThinCats is a crucial step to achieving our goals. The team at ThinCats were efficient, accommodating and keen to formulate a plan that worked for us.”
Ben Kimball, director of regional business development, ThinCats, added: “At ThinCats, our aim is to encourage and facilitate the sustainable growth plans of SMEs across the UK.
“The Technology Group stood out to us as an example of what businesses should be doing, and their clear growth strategy meant that we could easily facilitate a flexible deal. We look forward to furthering our flourishing partnership.”
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