Manchester-based web hosting business, Miss Group, has secured an increased £20 million debt funding commitment from HSBC UK to support its ambitious international growth strategy.
Miss Group has completed four acquisitions this year and alongside strong organic revenue growth, has increased revenues by 200 percent in the first nine months of 2019, it said.
Mark Kerswell, CFO of Miss Group, 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, said: “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 recently ranked 15th in the annual Sunday Times Hiscox Tech Track 100.
HSBC UK worked alongside the Business Growth Fund to provide funding for Miss Group. The funding was part of HSBC UK’s £1.05 billion lending fund for small and medium-sized enterprises (SMEs) in the North West.
