Onecom secures £30m funding from HSBC UK to support ambitious growth strategy

Onecom, the UK’s leading independent business communications provider, has secured a £30m finance package from HSBC UK in support of its ambitious growth plans.

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The five-year funding deal will enable Onecom to invest heavily in customer experience, systems and teams, in line with its strategy of achieving significant growth in that time frame.

Initial projects include upgrades to the company’s IT systems to scale them for future growth, increased use of AI to support customer service teams in delivering excellence in call quality, and an increase in resource at a local and regional level. The funding also strengthens Onecom’s ability to maximise the opportunities presented by consolidation in the mobile and fixed line marketplaces.

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Ben Dowd, Onecom CEO, said: “This funding from HSBC UK recognises Onecom’s huge potential for significant growth, building on our position as the UK’s leader in business to business communications technology for the UK SME.

“Onecom’s success to date is built on strong partnerships with global brands, outstanding customer relationships and the agility to expand through acquisition while nurturing and growing our established customer base.

“The funding from HSBC UK reinforces our commitment to achieving that growth while placing strong customer relationships and outstanding solutions at the heart of everything we do at a local, regional and national level.”

Anthony Reed, HSBC UK’s Head of Corporate Banking for Hampshire & Dorset, commented: “As a forward-thinking leader in the telecoms industry, Onecom’s investment in cutting-edge technology and dedication to delivering top-quality services for its customers creates a strong platform for growth. Our local team, led by Ben Hyslop, have worked closely with Onecom to create a tailored finance package to best support its ambitious expansion strategy and we look forward to seeing its plans come to fruition.”

Onecom, which has headquarters in Whiteley, Hampshire, is the UK’s largest independent business telecommunications provider, operating from 10 regional offices, including Cardiff, Belfast, Southampton, Plymouth, Leeds, Telford, Norwich and Brighton.

The company currently manages nearly 100,000 business customers, delivering communication services and unified solutions across fixed line voice, connectivity and cloud computing to some of the UK’s most dynamic companies.