Integritie sought £750,000 to capitalise on the rapid growth that they were experiencing, moving away from their services business to solely offer their scalable, cloud-based application.
The auction generated £1,000,000 for the Portsmouth-based company, enabling them to increase their marketing investment and develop their Cloud infrastructure in the USA, Canada and Australia.
Founded in 2000, Integritie is a managed solutions provider which serves bluechip customers in 35 countries utilising its cloud-based applications.
Michael Veenswyk, CEO of Integritie, commented on the process: "We selected UK Bond Network as they provide an exciting new way to raise money without losing equity.
"The outcome was impressive; we received a valued finance solution that enabled us to focus on our strategic growth goals. Christopher Maule, CEO of UK Bond Network led the project. He and his team worked closely with Integritie, providing clear value-add counsel to ensure that our funding requirement was met.”
With a significant blue-chip client base and contracted long-term future revenues, Integritie exhibit an example of an established, highly-profitable business. Working closely with Michael and his management team throughout the structuring process, we were able to provide finance which is bespoke to the needs of the Company, all while ensuring that the lending opportunity was attractive to investors.
Amount raised: £1,000,000
Final interest rate: 14%
Average bid size: £18,868
Funding required: £750,000
Additional return: Potential bonus payment related to the future sale of the company
Security: All assets debentures and negative pledge
Term: 24 months
Repayment: Interest-only year 1, fully-amortising year 2