Seven-figure funding package served up for hospitality industry tech company
Hessle-based technology firm, Tevalis Limited, has secured a seven-figure funding package to support its growth plans.
It is being backed by alternative lender, SME Capital, which has arranged a five-year funding structure.
Tevalis is a technology solutions provider to the global hospitality industry, with more than 2,500 clients.
The company says it has already invested significantly in its growth strategy, and with this additional capital is in a strong position to develop new products and increase its market share in the UK and internationally.
Tevalis CEO, James Cook, said: “This new funding is enabling us to drive growth, invest in new product development and continue providing market leading solutions to our clients and accelerate our growth strategy in the coming year.”
SME Capital regional director, Timothy House, added: “From our first meeting with management it was clear the business provides a differentiated position in the market and is well placed to embrace the consumer habit changes in the sector.
“SME Capital are happy to support James Cook MD and James Butcher FD and we look forward to working with them”.
The arrangement was facilitated by Dean Stoyanov and Christian Robinson from PWC Advisory, with Richard Sealey providing legal advice to SME Capital.
