Established in 2013, the firm provides short-term flexible broadband, phone and TV packages, specialising in the private rented sector.
The loan was provided by Barclays Innovation Finance.
The company approached Barclays to support its business growth after learning about the bank’s commitment to support Scottish enterprise.
Daniel Halliday, finance director of TenTel, commented: “With our business experiencing
exponential growth, we needed support from a progressive funding partner like Barclays who could meet our current needs and also see the future potential of the company.
“It’s encouraging to work with an engaging, experienced team that continuously offer not just banking services but strategic support. The deal will give us the working capital we need to invest in our staff and IT services to meet growing demand in the marketplace.”
Jamie Grant, head of business and corporate banking at Barclays, added: “SME lending is core to our offering at Barclays and TenTel perfectly aligns with the kind of high growth, inspiring businesses Innovation Finance was developed to support.
“By working with companies like TenTel at this crucial stage in their life cycle, we are helping them scale up for future growth.”
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