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Basingstoke business optimised for growth with EM3 Expansion Loan

Last updated 02 October 2023
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Retail and Financial

A company that specialises in ATM optimisation for the retail and banking sector has secured £200,000 from the Enterprise M3 Expansion Loan Scheme to fund the next stage of their business growth.

Retail and Financial Services Limited, based in Basingstoke, are filling the gap in White Label ATM solutions.

Through the company’s optimisation of networks and their associated systems, ATMs which are operated and maintained by a non-bank organisation are able to run at reduced operating costs and on enhanced systems. The solutions offered can be as much as 70% cheaper than traditional ATM models and cover both long-standing and new functionality such as multi-currency needs. The companies End2End solutions and analytical tools are also able to predict machine failures, allowing their clients to replace a part before the machine is taken offline. Failure prediction is one of the factors which allows for maximum machine uptime in excess of 99% cash availability.” 

Andrew Martin, CEO at Retail and Financial Services Limited, said, “The Payments marketplace is changing at a rapid speed and we see a revolution coming with cardless transactions. Our products help our clients to be part of this payments revolution by bringing them up to speed with the technology changes and ensuring they remain leading edge. This funding will allow the company to further improve our infrastructure and will also enable us to focus on expanding our ever-growing team.” 

Derek Ellis, fund manager at The FSE Group, which manages the EM3 Expansion Loan Scheme on behalf of Enterprise M3 Local Enterprise Partnership (LEP), comments: “Andrew is one of the leading figures in the ATM world. He and his team have developed innovative software that hugely benefits not only their clients but also the end user – the general public. In a fast-paced sector, Retail and Financial Services are well equipped to continue their rapid growth journey. We are looking forward to working with them and wish them all the success for the future.”

Kathy Slack, Director, Enterprise M3 LEP, comments: “Retail and Financial Services are a great example of the type of business our Expansion Loan Scheme seeks to support. They are already commercially successful yet continue to grow and an Enterprise M3 cash injection can really accelerate this expansion. Retail and Financial Services are carrying out innovative, technological work which contribute to our region’s reputation in this field and as their technology enables their clients to reduce costs, they are helping other businesses to grow.”

The EM3 Expansion Loan Scheme is part of the Enterprise M3 Funding Escalator, £10million initiative funded by Enterprise M3 LEP. The escalator, which also includes a short-term trade loan scheme and an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the EM3 area.

Click here for more information on the Enterprise M3 Expansion Loan Scheme. Or contact Derek Ellis at tel: 01276 607302.

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