Alternative SME credit specialist Caple has helped Cloudbooking, a cloud-based room, desk and visitor booking software firm, to access multimillion-pound unsecured funding, contributing to an estimated 50% growth for Cloudbooking.
London-based Cloudbooking will use the funding to meet increased global customer demand following Covid-19. It has seen a 300% increase in new business demand.
The company is now scaling its global operations and workplace management software platform to deliver new hybrid ways of working post-Covid-19, to its rapidly growing client base.
Cloudbooking enables clients to rapidly deploy technology to embrace new ways of working and to ensure a safe return to the workplace.
Dominic Buch, co-founder and managing partner of Caple, comments: “Innovative businesses like Cloudbooking are leading the charge in creating new jobs and rebuilding the economy. Now more than ever our focus is on helping the UK’s growing businesses.
“UK high street banks have pulled out the stops to help their business customers through Covid-19. But many will now not have the bandwidth or available finance to look after new clients with new growth financing. Our funding with Cloudbooking demonstrates why SME business owners that need growth funding must look to alternative options to secure funding that helps them plan, invest and grow.”
Gerry Brennan, CEO and founder of Cloudbooking, said: “The accelerated digital transformation of the workplace presents an incredible opportunity for Cloudbooking and our innovative range of customisable workspace management services. We’re excited to have Caple supporting us in our strategic global vision as we continue our rapid growth and push on with our product roadmap and expansion plans.”
Caple is the UK’s first firm to offer access to long-term unsecured funding of up to £5m based on the future cash flows of the SME.