A software firm has secured a new £8 million funding deal.
Tamworth-based Flo Group will use the capital to grow its funding arm Cash Flo and support its plans to expand its funding provision to an additional 50 to 60 temporary staffing agencies over the next 18 months.
The company was founded in 2013 and provides software to the temporary recruitment sector, working with clients in sectors such as education, healthcare and construction.
The funding package was provided by Aldermore.
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Flo Group director Nathan Golby said: "We're incredibly excited to enter this next phase of growth with the backing of Aldermore.
"This new facility allows us to unlock even more working capital for recruitment agency owners across the º£½ÇÊÓƵ - removing the usual financial and operational barriers.
"Our mission has always been to make it easier for recruiters to build successful agencies and now, with Aldermore's support, we're ready to help even more of them do exactly that."
Alex Hazell, business development manager at Aldermore, said: "By providing this growth funding facility, we're enabling them to scale their operations, enhance service delivery and help more recruitment agencies succeed, and we're proud to be a part of their journey."
