Business Services firm secures funding for growth

Connectus Business Solutions will use the revolving credit facility from Time Finance to help fund an "exciting new phase" of development, which is set to include expansion, additional staff hires and new acquisitions.

Connectus, which has its head office in Doncaster and an additional service centre in Salford, is a trusted partner to 100s of business, schools and public sector clients across the UK.

Revenue has grown by more than 47 per cent in the past year, with earnings before interest, taxes, and amortization are now at 18 per cent.

Roy Shelton, Chief Executive at Connectus, said: "We are delighted to have secured this new funding with Time Finance which will help create an important new chapter in the story of our business. It will fuel the growth of Connectus Business Solutions and it will also help meet the growing demand for our connect, protect and collaborate managed services.

"We've had a strong start to 2023, and now this new funding will allow us to make even more investments into our fibre network and secure hosting environment. It will also allow us to extend our cyber security capabilities and invest in more engineering and support staff.

"We have ambitious plans for additional acquisitions that are progressing well. With this funding in place, we will be able to add to the services we provide our customers we serve and further extend our geographical reach. We are at an exciting new phase of development."

Bath-headquartered Time Finance supports more than 10,000 UK businesses every year with funding.

Rob Walters, business development manager at Time Finance, added: "Connectus is a fantastic business and one we're delighted to support. They have ambitious plans to grow and we look forward to seeing how our funding can help them to make a real impact."