Manchester-based web hosting business Miss Group has secured an increased £20m debt funding commitment from HSBC UK to support its international growth strategy.
Miss Group has completed four acquisitions so far this year and increased revenues by about 200% in the first nine months of 2019. The firm expects to complete further acquisitions in 2019 and 2020, accelerating growth in revenue, earnings and cash flow.
CFO Mark Kerswell said: “We’re proud to be one the fastest growing tech companies in the UK and with support from HSBC UK we’re confident that we can continue to increase our presence globally.
“Reacting quickly to an international market is important, and with HSBC we have a commercial banking partner that gives us real advantage in delivering against our acquisition and organic growth targets.”
Mark Boyle, Corporate Relationship Director for Greater Manchester, HSBC UK, added: “It’s exciting to be supporting such a rapidly expanding technology company based out of the North West.
“The importance of a thriving tech sector to the North of England is often discussed in the business community and it’s great to see more companies buying into the push to lead on innovation. We hope to help more businesses like Miss Group build on their futures across the region.”
Miss Group was established in 2014 and is one of Britain’s fastest-growing tech firms. The funding was part of HSBC UK’s £1.05 billion lending fund for SMEs in the North West.
