London tech consultancy protects jobs with seven-figure HSBC funding

A technology consultancy in the centre of London has secured jobs and growth plans through a seven-figure funding package.

Nephos Technologies has secured a funding package from HSBC UK to protect jobs during COVID-19 as well as support its plans for growth.

The firm, which works with the likes of Conde Nast and the London Stock Exchange using data to drive innovation, has secured 28 jobs through the Coronavirus Business Interruption Loan Scheme (CBILS).

In addition, the package is expected to enable the company to double revenue within the next three years by opening more offices in the UK and expanding internationally.

Michael Queenan, co-founder & CEO of Nephos Technologies, commented: “We faced uncertainty following lockdown and were keen to adapt quickly to support our staff and clients.

“The loan from HSBC UK has allowed us to be flexible in these challenging times, allowing us to manage the day-to-day issues of running the business during the pandemic while still retaining our focus on our ambitious growth plans.”

Cameron Rathwell, area director and head of corporate banking in Thames Valley for HSBC UK, added: “Nephos Technologies has grown over the years to become a leading player in data consultancy.

“We’re pleased to be able to support the company and help the business maintain its ambition to expand over the coming years domestically and internationally.”