Rosslyn Data Technologies secures £1.5m debt finance from Clydesdale Bank
Rosslyn Data Technologies has secured a £1.5m debt facility from Clydesdale Bank to refinance debt from its previous acquisition and support working capital.
Rosslyn Data Technologies is a cloud-based data analytics provider operating a unified platform for multinational clients. The company combines bulk extraction, cleansing, enrichment, and visualisation tools to help users make informed operational decisions.
Rosslyn Data Technologies has secured a £1.5m secured debt facility from Clydesdale Bank to refinance debt assumed during its past acquisition of Integritie. £1m of the facility is being drawn down immediately, with £750k allocated to repaying the maturing Integritie debt and the remainder directed towards working capital. The three-year arrangement carries an interest rate of 7.75% plus three-month LIBOR, with repayments scheduled across quarterly installments concluding in March 2022.
The refinancing concludes all remaining earn-out provisions and financing arrangements linked to the former vendors of Integritie. Chief Executive Roger Bullen noted that the new facility reflects confidence in the maturity and growth trajectory of the business as it prepares for further commercial expansion.
From the founder
"I am delighted that we have been able to replace our existing debt with a facility from Clydesdale Bank, which I believe demonstrates confidence in Rosslyn as a maturing business as it prepares for future growth."
Roger Bullen
CEO at Rosslyn Data Technologies
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About the company
Rosslyn Data Technologies
Rosslyn Data Technologies provides a cloud-based data analytics platform for multinational clients.