A Bristol-based specialist tech recruitment firm is taking a significant step forward in its growth after receiving a six-figure investment boost.
Firmus Consulting has been operating for over 15 years and was established by Zak Upcott, a specialist in the IT and tech recruitment industry.
The funding was received from the British Business Bank's South West Investment Fund via appointed fund manager FW Capital to help accelerate the expansion of Firmus Consulting, boost working capital and bring in two recruitment consultants. It will also help with investment in the use of Artificial Intelligence technologies to enhance Firmus Consulting’s recruitment processes, future proofing the business.
Zak Upcott, Director and Owner at Firmus Consulting said: “Business is booming. I’ve recently secured a substantial new contract, and the increased workload has led to the growth of the business and the addition of two new team members. This is a significant step forward for us and the loan from the South West Investment Fund is helping to provide working capital which is enabling me to do this. Investing in AI is also something that is important, ensuring we keep pace with our peers and enhance our offering. The support from Ben at FW Capital has been great and I’ve been impressed by the speed of the process.”
Ben Donati Investment Executive at FW Capital led the deal and explained: “Zak has embarked on an exciting growth journey and is moving from being a sole operator to taking on new team members. His expertise in the tech recruitment sector has led to a significant uplift in work and as a result he sought funding to help take his business to the next level. Increasing the supply and diversity of finance for smaller businesses like Firmus Consulting is an important part of the South West Investment Fund. We’re helping Zak begin his next stage of growth with confidence.”
Lizzy Upton from the British Business Bank said: “Firmus Consulting’s expansion is a great example of how the South West Investment Fund is supporting ambitious businesses to grow, create jobs, and invest in new technologies. By providing access to finance, we’re helping businesses like Zak’s take the next step with confidence, strengthening the region’s economy and driving innovation."
The South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help small and medium sized businesses to start up, scale up or stay ahead. Fund manager FW Capital provides debt finance using the South West Investment Fund to businesses in Bristol, Gloucestershire, North and North East Somerset and Wiltshire.
The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the region. It is increasing the supply and diversity of early-stage finance, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
