Six-figure funding for York software developer from one of the UK's biggest banks

York-based software provider Onesys Group has expanded its national operations with the support of six-figure funding from HSBC UK.

The investment will fund two acquisitions for Onesys Group, which supplies timesheet, project and billing systems globally.

With HSBC’s backing, the group has acquired two direct competitors - The Northern Path and AIM Software. This aims to scale the firm’s operations by 50 per cent in the North and the Midlands.

Stephen Smith, relationship manager for North and West Yorkshire of HSBC UK, said: “Onesys Group is a fine example of the sort of ‘growth-hungry’ businesses that we’re proud to back.

“Richard and his team are not afraid to make strategic investments to achieve their ambitious expansion strategy. We look forward to supporting them as they move forward with other acquisitions in the near future.”

The acquisitions aforementioned are part of Onesys Group’s business plan to consolidate small Sage providers into a bigger organisation, working with SMEs and bigger businesses.

Onesys Group expects to recruit over eight additional staff, hoping to increase turnover by 30 per cent within the next year.

Richard Knowles, Onesys Group’s managing director, added: “Each acquisition broadens our technical skills and expertise, whilst providing deeper resources in key areas such as our user helpdesk, consultancy and software development.

“With the financial backing and guidance of HSBC UK, we can continue to build on the excellent reputations of Onesys, The Northern Path and AIM.”

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