Syscap has secured an additional £75 million (€83.1 million) in
finance with a UK bank which, the IT financier said, will be used
to help its customers to fund IT investment delayed by the onset of
the downturn.

“We are delighted to have been able to secure this additional
new funding line to support a recovery in demand,” said Philip
White, chief executive of Syscap.

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“This considerable new funding facility for IT investment will
bring some reprieve for vendors whose ability to make sales has
been seriously hampered by the drying up of funding over the past
two years,” he added.

This additional £75 million in funding comes on the back of
Syscap’s recent success in renewing and securing additional
capacity with a number of institutional lenders. Indeed, in July,
the IT finance provider secured a £50 million for professional
services firms.

Jason T Hesse

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