£150k Northern Powerhouse fund for Doncaster tech business

£150k Northern Powerhouse fund for Doncaster tech business

Connectus Group, the Doncaster-based superfast broadband provider, has secured £150,000 worth of funding from the Northern Powerhouse Investment Fund (NPIF).

The investment from NPIF – FW Capital Debt Finance, managed by FW Capital, will fund a premises refurbishment, additional staff, and marketing and website development to support the further expansion of the business.

Last year, the Group achieved a turnover of £500,000 and this is expected to rise to £1 million in 2019.

Chairman Paul Ruocco said: “We were delighted with the £150,000 investment from FW Capital it has been used to create five new full-time roles and the continued growth of the company.

“The funding will also allow us to address the unprecedented demand for Gigabyte Fibre connectivity, VOIP telephony solutions and cyber security services to business across the north of England.

“The entire process of working with FW Capital has been smooth and transparent with great support and we would highly recommend working with them.

Loz O’Connor, FW Capital Investment Executive, said: “BDUK has launched a £67 million Gigabit Broadband Voucher Scheme which businesses can access if they invest in fibre optic broadband.

“This will encourage businesses to put broadband improvements high on their agenda and will provide lots of opportunities for Connectus.

“Our funding will enable the company to deliver on increased demand for its services and we are very pleased to support Connectus through this significant period of growth.”

Grant Peggie, Director at British Business Bank, added: “This investment will allow Connectus a greater presence online and to recruit additional staff.

“Connectus has established an impressive client base within the telecoms and technology sectors, and we hope that the funding from NPIF will enable the firm to expand even further.”