Solihull-based executive recruitment firm, Quantum Group Solutions Limited, has secured its first round of investment, totalling £730,000 from the Midlands Engine Investment Fund (MEIF) through venture capital firm, Midven.
Quantum specialises in global executive recruitment and outplacement, and has successfully delivered projects across Europe, Asia, North and South America. The firm covers sectors including technology, industry, energy, infrastructure, transport and pharmaceuticals.
The recruiter is set to use the funding to continue its growth and support accessing further, future investment.
Quantum Network Solutions (QNS), will be launched in January 2021, to offer the current and upcoming generation of recruiters a ‘new model’ of working in recruitment where they have complete freedom and control of their own destiny.
The company says the new model will suits the current trend for working from home and self-employment with an emphasis on work-life balance.
The business wants to attract entrepreneurial professionals keen to set up their own recruitment business but don’t necessarily want to manage all of the back-office functions. They will have the opportunity to work inside a larger organisation with the reach and expertise while developing their own business and possibly their own team.
QNS will provide the ‘Networkees’ with business mentoring, HR, training & development, finance management and marketing.
Tony Wright, founder of Quantum Group said: “The injection of cash allows us to build on the exceptional and unique culture of the business and to develop the Quantum Network Solutions business whilst we also grow our core international recruitment business. The QNS business is expected to provide a strong recurring revenue base over time, while expand its portfolio, and we are excited to see where this leads us in the future.
“We are honoured to have received this investment from Midven through the MEIF as it allows us to remain leaders in our sector and supports our entry to new and thriving markets where we believe recruitment will be leaning towards in the future.”
Surjit Kooner, Investment Director of Midven said: “Quantum provides the MEIF and West Midlands Equity Fund with an exciting opportunity to support an established business with ambitious growth plans. With an experienced management team, and existing customer base, the company is now looking to accelerate growth across permanent and interim solutions.”
Ken Cooper, Managing Director at the British Business Bank, said: “With the MEIF contributing to 20 per cent of total equity finance deals across the Midlands, this latest investment in Quantum is a great example of how the Fund can help established businesses to realise their growth ambitions.”