HeleCloud, a Maidenhead, Berkshire, UK-based IT consultancy and managed services provider specializing in cloud strategy, implementation, migration and operation services, received a £2m minority investment from BGF.
In conjunction with the funding, BGF’s Alex Snodgrass will join the board of HeleCloud.
The company intends to use the funds for services portfolio expansion, the establishment of its presence into further European territories, and the development of new Cloud capabilities.
Founded in 2016 by Paul McCarthy (Chief Corporate Development Officer), Stefan Bumov (deputy CEO), Alex Kolev (CFO), Simon Rendell (NED) and Dob Todorov (CEO), HeleCloud delivers Cloud migration solutions for businesses with security and compliance requirements.
Most recently, the company created a secure AWS-based platform for the electronic trading platform NEX Infinity to process multi-million transaction volumes daily across the globe, and has secured multi-million pound contracts with large European Systems Integrators.
HeleCloud has already worked on projects with global corporations and household names, and references market innovators such as Viber, the NEX Group, and Zopa. It currently has more than 50 employees.
As part of the transaction, Duncan McIntyre, former CEO of Morse plc and Chairman of Monitise plc, will become non-executive Chairman of the company. Currently HeleCloud’s non-executive director and investor, McIntyre is a member of BGF’s talent network of board-level executives.
Advisors to the transaction were Wilson Partners and Osborne Clarke who acted on behalf of BGF. FieldFisher advised HeleCloud.