Leeds cloud services company Oriium secures seven-figure funding

Simon Austin's picture
by Simon Austin
Oriium

Leeds-based data management services provider Oriium has secured a seven-figure funding package from Allied Irish Bank.

The funding will support growth through acquistion and expansion for the company, which works as a wholesaler of IT services for major public sector and blue-chip clients.

Oriium, which was set up in 2007, has a headcount of 70 and recently announced a significant increase in turnover from £2.8m in 2015 to more than £11m this year.
Founder and managing director Chris Kiaie said: “Since starting the business back in 2007 we have expanded at a rapid rate and the investment from Allied Irish Bank will enable us to support our continued growth and provides an excellent platform from which to identify and pursue acquisition opportunities.

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“There has been a lot of talk about banks being slow to provide funding but Allied Irish Bank (GB) have been phenomenal. They have been very pragmatic in structuring a suitable funding package and have really taken the time to understand our sector and our growth aspirations.”

Mark Billington, Business Centre Leader at Allied Irish Bank in Yorkshire, added: “Oriium is an impressive business that has been successfully driven forward by Chris and Ryan. Both are experts in the technology sector and are a formidable team.

“My colleague, Matthew Fannon, and I have worked together to provide loan facilities to support their exciting growth plans as they look to target potential acquisition opportunities.”