A Bristol tech company is planning its expansion into the US after securing a major funding. Exacta Technologies, a server technology firm based in Pucklechurch, has agreed a £1.8m financing deal with NatWest.
The package comprises £1.5m in working capital and growth financing, and £300,000 for refinancing. The cash, the firm said, will enable the company to explore new markets and expand its operations Stateside.
The deal marks the latest successful expansion for Exacta Technologies, which was founded in 2001 and moved to a state-of-the-art 20,000 sq ft production facility in Emersons Green in March 2020.
Exacta Technologies is also hoping to create new job opportunities in Bristol, hiring around 20 new employees in the next 12 months.
Nick Rogers, chief executive of Exacta Technologies, said: "We’ve built our business on strong, enduring partnerships, and this investment from NatWest is a testament to the relationship we have built together and the confidence they have in our vision and capabilities. The funding will allow us to explore new markets and continue our growth trajectory, ensuring we can attract new customers in the USA and provide them with a world class service."
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Louis Spencer, relationship director at NatWest, added: "Exacta Technologies has demonstrated remarkable growth and innovation over the years and are a fantastic example of the depth and breadth of our technology eco-system here in the West of England.
“It’s been a pleasure to work with the management team at Exacta and we are proud to help facilitate this latest expansion into US markets and back their commitment to growth in employment, sales and export activity for the region."
