A superfast broadband and cyber security specialist has secured a second round of funding from NPIF – FW Capital Debt Finance.
Connectus Group provides full fibre optic connectivity from offices in Doncaster and Salford, working with a host of blue-chip clients such as BT, Vodafone and Peel Holdings.
NPIF – FW Capital Debt Finance provided an initial £150,000 loan in 2018, which was used to recruit and train four staff and invest in branding and marketing.
A second loan of £150,000 has now been invested to expand additional managed services, recruit more staff, invest further in marketing and for training and technical development for the team.
In between rounds, nine jobs have been created and revenue has grown by 55 per cent. Connectus has also moved into a 1,500 sq ft office at the AJ Bell Stadium where it has won a contract to run the site's broadband, cyber security and VOIP for five years.
Chief executive Roy Shelton said: "FW Capital has provided much more than finance and we are delighted to be continuing our relationship with them. They have been a very important source of support for us – creating networking opportunities and adding extra value by attending our quarterly reviews."
Melanie Taylor, senior portfolio executive at FW Capital, added: "Connectus' achievements have surpassed our expectations following the first round of investment and we are pleased to support them through this next exciting phase of development.
"The company is ambitious in its growth plans and has been successful in generating new contracts and tender opportunities. Our new loan will assist in funding the upfront costs of these new contracts."