Calculus Capital invest a further £2 million into Origin
Origin is an award-winning provider of internet and phone services. Since Calculus Capital's first investment in the business in December 2016, Origin has been extremely successful in acquiring new residential customers, surpassing its projected numbers by more than 300 per cent. To help meet the exceptional level of demand for its products and services the company has increased its headcount by over 100 per cent since December.
Calculus Capital’s new round of funding will provide working capital to support the significant level of customer acquisition, including hiring more UK based people, investment in client service provision and for growing the business customer base.
Richard Moore, Head of New Investments at Calculus Capital, says: “We are pleased to be supporting Origin in this latest round of fundraising. The company has achieved significant growth since our last investment, particularly in the residential market. This second round of funding will enable to Origin to support its enlarged customer base and focus on growing the SME (leased line) side of the business.”
Oliver Bryssau, Managing Director of Origin, says “We continue to work closely with Calculus Capital who are helping us to reach our growth ambitions. We are using this funding to invest heavily in providing UK based jobs and in turn focusing on providing the best service to our broadband customers at a great price”
Calculus Capital specialise in Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) and made an initial investment into the Origin business of £3 million back in December.