Entrepreneur secures six-figure loan to fuel his third cyber venture
A growing Leeds cybersecurity company has secured a six-figure loan from NPIF II – Mercia Debt Finance, which is managed by Mercia as part of the Northern Powerhouse Investment Fund II (NPIF II).
Xentra provides digital security solutions to clients including Leeds United FC, Leeds Bradford Airport, local councils, schools and NHS bodies.
It is the third cyber venture from entrepreneur Henry Doyle, who previously co-founded both Altinet, a Leeds-based business which was sold to Arrow in 2020, and cyber training specialist Boxphish.
He acquired a majority stake in Xentra in January from the founder Marc Fairclough, who is now chief operating officer.
Since then they have led a growth drive, increasing the number of employees from two to 14 and winning high-profile clients. The team now plans to double the size of the business within the next 12 months.
The funding will provide additional working capital to support the firm’s growth and create four to five new jobs by the end of this year.
Xentra offers managed services ranging from 24-hour monitoring to firewalls, email security and storage and is a specialist in safeguarding, supporting schools and colleges with a combined total of around 125,000 pupils.
Doyle said: “As cyber risks increase, every organisation needs security but with so many different technologies and new threats emerging all the time, building the right infrastructure is a team game.
“Our experts help clients choose the right solutions and create a safe working or learning environment.
“The funding will help us deliver our customer acquisition strategy and continue our rapid expansion.”
David Wright. of Mercia Debt, added: “Xentra is a one-stop shop for all of an organisation’s cybersecurity needs.
“Henry has done a remarkable job to achieve such rapid growth in a matter of months and has built a strong management team.
“The NPIF II funding will provide the working capital they need to take the business forward.”
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25,000 to £2m and equity investment up to £5m to help small and medium sized businesses to start up, scale up or stay ahead.
Lizzy Upton, senior manager at the British Business Bank, said: “Cybersecurity is a rapidly growing industry, with attacks being on the rise in an increasingly digital world.
“NPIF II funding is crucial for Northern businesses like Xentra, enabling them to scale, unlock potential in the region and contribute to the UK’s economic growth.
“The North’s tech sector has been growing rapidly for a long time now and we’re proud to see NPIF II play key role in helping tech companies in the region flourish.”
