The facility will replace an existing loan from a high-street bank and will be used to help fast-track growth in cloud-related services.
Since its launch in 2003, the international Gloucestershire-based business has helped companies undergo digital transformations by improving the scalability and security of their networks. Its offering includes server and storage solutions, cyber and network security, multi-cloud solutions, and value-add services such as installation and configuration.
Across the group, including its distribution centre in Swindon and offices near Cirencester, Hardware.com employs over 100 members of staff. The business works with companies across the country and internationally through its subsidiary companies in the USA, Nordics and South Africa.
Hardware.com installs solutions from some of the biggest names in its sector, such as HP, Dell, Juniper and Palo Alto Networks. The company has notable clients across the commercial and public sectors including major retailers, managed service providers, education and government.
The £5 million facility provided by Secure Trust Bank Commercial Finance will replace an existing loan from a high-street bank. Hardware.com will use the funding to help fast-track growth in cloud-related services as well as for working capital.
Gwyn Hicks, COO & CFO of Hardware.com, said: “Secure Trust Bank constructed a facility that was more flexible than what we previously had and better met our requirements. This source of capital puts us in a strong position for the future, as we look to diversify our services and grow our market share both in the UK and internationally.”
David Parsons, Regional Managing Director at Secure Trust Bank Commercial Finance, said: “Hardware.com’s value-add offering has helped it secure contracts with a number of blue-chip clients across the globe, and with this new line of funding, the business can look at investing in new services that will allow it to scale up and bring in new revenue streams. We’re keen to support Hardware.com and we look forward to seeing the company progress in the coming years.”
The business was introduced to Secure Trust Bank by David Totney at Liquidity Club. He said: “Having access to the decision makers at Secure Trust Bank enabled a quick and smooth transaction. The team took the time to understand the business and constructed a flexible facility that will undoubtedly support the long-term growth of the company.”