A family-run telecoms service provider in Birmingham has secured a £2.5m Invoice Finance facility from HSBC UK to help it expand its physical footprint in the UK and enter new markets.
Founded five years ago, G Comms offers logistics support to UK network providers and telecoms businesses, including household names Vodafone, Three, EE and O2. The funding will improve cash flow allowing the company to focus on its plans to expand its warehouse in Coleshill by 50,000 sq ft. The increase in capacity will allow G Comms to serve more customers in the UK as well as offer more value-add solutions to streamline its processes and reduce costs.
With an experienced senior leadership team, led by founder Claire Greenwood, G Comms has demonstrated rapid growth over the last five years. The company hopes to continue on this trajectory through its work developing products for the UK’s 5G network infrastructure and support for the rollout of autonomous vehicles in Birmingham.
Claire Greenwood, Managing Director of G Comms, said: “Expanding our physical footprint in the Midlands will provide the platform to scale up our business, so it’s an exciting time for the team. We intend to diversify and enhance our capabilities within the telecoms market. With the reassurance from HSBC UK and, in particular, our Relationship Manager Blake McDonald, we have all the tools needed to not only meet but exceed our goals.”
Mark Lupton, HSBC UK Area Director for Greater Birmingham, added: “HSBC UK is committed to helping businesses realise their ambitions. The Midlands tech scene continues to see rapid growth and this deal allows G Comms to kick-start its next phase of growth.”
The funding will also support the set up of a pre-staging area at G Comms’ warehouse for the assembly and testing of new and returned telecoms equipment, including cabinets, radios and antennas. Furthermore, the company plans to invest in new IT and Warehouse Management Systems to help improve its visibility and inventory management.