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Posted on April 30, 2019 by staff

UK telecoms firm secures £30m funding deal

Business telecoms provider Onecom has secured a £30m finance package from HSBC UK.

The funding deal, which will last five years, will be used to upgrade the firm’s IT systems and increase its use of AI artificial intelligence to support its customer services division, and an increase in resource at a local and regional level.

The Hampshire-headquartered company also has offices in Leeds, Southampton, Telford, Plymouth, Norwich, Brighton, Cardiff and Belfast.

“This funding from HSBC UK recognises Onecom’s huge potential for significant growth, building on our position as the UK’s leader in business to business communications technology for the UK SME,” said Ben Dowd, CEO of Onecom.

“Onecom’s success to date is built on strong partnerships with global brands, outstanding customer relationships and the agility to expand through acquisition while nurturing and growing our established customer base.

“The funding from HSBC UK reinforces our commitment to achieving that growth while placing strong customer relationships and outstanding solutions at the heart of everything we do at a local, regional and national level.”

Anthony Reed, HSBC UK’s head of corporate banking for Hampshire and Dorset, added: “As a forward-thinking leader in the telecoms industry, Onecom’s investment in cutting-edge technology and dedication to delivering top-quality services for its customers creates a strong platform for growth.

“Our local team, led by Ben Hyslop, have worked closely with Onecom to create a tailored finance package to best support its ambitious expansion strategy and we look forward to seeing its plans come to fruition.”