Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist Calculus Capital has invested in Origin Broadband (Origin), an award-winning provider of internet and phone services.
Since Calculus Capital’s first investment in Origin in December 2016, the company has been extremely successful in acquiring new residential customers, surpassing their projected numbers by more than 300%. To help meet the exceptional level of demand for its products and services the Company has also increased its staff headcount by over 100% since December.
Calculus Capital has invested a further £2 million in Origin, this new round of funding will provide working capital to support the significant level of customer acquisition including increasing staff headcount and client service provision.
Richard Moore, Head of New Investments at Calculus Capital, said: “We are pleased to be supporting Origin in this latest round of fundraising. The Company has achieved significant growth since our last investment, particularly in the residential market, this second round of funding will enable to Origin to support its enlarged customer base and focus on growing the SME (leased line) side of the business.”
