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Marjolo

Sheffield-based IT consultancy will use £450,000 CBILS loan to enter new markets and realise a substantial pipeline of new work

Marjolo

What does the company do?

Marjolo is a digital transformation and automation specialist that operates in both the private and public sectors, with previous clients having included Autoglass and HM Revenue & Customs. The Covid-19 pandemic deprived the Sheffield-based firm of nearly £1m in revenues, but thanks to strong relationships with long-established customers and a rapid growth in new business in 2021, the company is on track to double in size.

What funding has it secured?

Product: Revolving credit facility (under the CBILS scheme)

Amount: £200,000

How will it use the money?

Enter new markets and expand its team.

The investment will ease Marjolo’s working capital, enabling the business to realise a substantial pipeline of new work, reach new markets and expand its team. The company’s founder, Dave King, who was introduced to Growth Lending by a broker, was keen to work with a lender that could tailor its funding to support the firm for a number of years.

Why did we fund this firm?

Tom Seymour, Growth Lending’s regional director, says: “It was clear that Marjolo’s team had a solid vision and values we could buy into. Working with them has been straightforward, and this will be an exciting client to watch as the business doubles in size in the coming months.”

Why choose Growth Lending?

Dave King, Marjolo’s founder, says: “Growth Lending has been so easy to work with – the team understands us and the growth we want to achieve. Funding can seem complex, but they are able to explain their products in a way that anyone can understand. I feel very lucky to work with a funder like Tom and hope to have him alongside us as our growth continues throughout the decade.”