Security firm secures £300,000 funding boost

Security firm secures £300,000 funding boost

A Leeds-based security firm is expecting to double or even treble its turnover this year after securing a £300,000 funding boost.

Servo Group, which was founded in 2014, turned over a total of £1m in its first year of trading and already employs over 100 members of staff.

Access Commercial Finance has provided the £300,000 investment to give Servo the capacity to expand, and it expects to double the facility within the next year.

Jodie Crosthwaite, managing director of Servo Group, said: “Our success has been phenomenal to date, and finding the right finance has been integral to that.

“Like many young businesses, once we started to take off we needed funding otherwise we would be over trading.

“Without a reliable finance facility, it would have been impossible to be considered a major player in our chosen sectors, which we are now fast approaching, through great service, attention to detail, and the great team we have here.”

With the additional funding, Servo is planning to build on its success, recruiting extra staff and continuing to compete for large national contracts.

Matt Haycox of Access added: “It's great to work with really strong, ambitious businesses like Servo, who have achieved so much, so quickly.

“Often companies like this turn to us because banks and high street lenders can still be conservative in their lending, whereas we can see the massive potential in their plans and help to structure the solution that will really help them grow into a huge business.”