Thames Technology capitalises on fintech market with £3.9m facility
Thames Technology develops, manufactures, personalises, and distributes payment, gift, loyalty, and commercial cards. Anything with a magnetic strip or chip.
It manufactures over 200 million cards every year, distributing them to over 60 countries. Customers range from government bodies and retail giants to fintech and holiday firms, with 30% of business generated by export.
Founded as a family run business in Rayleigh, Essex almost 25 years ago, Thames Technology (Thames) employs 155 people. Following investment by BGF, the Business Growth Fund, in 2013, the company has been steadily transforming into a professionally managed corporate aided by additional funding from Independent Growth Finance in 2018.
A new senior leadership team brought in to drive investment and change across the organisation has enabled the company to flourish. Providing outstanding service, delivering larger contracts and innovating its product offering in an extremely buoyant market.
Robin Hilton, Chief Finance Officer, Thames Technology, explained: “We were seeing an explosion of fintech across the market and opportunities to grow revenue. To take advantage of these opportunities we needed to undertake a complete company transformation. This was never going to be an easy task and relied on a financial partner to support our increased working capital requirements.”