The Cashroom raises £500k in its first funding round from a business angel to scale operations
The funding will support technology upgrades and the opening of new regional offices across the United Kingdom.
Share allotment filed at Companies House
The Cashroom is a business process outsourcer providing specialist cashiering and accounting services to law firms across the United Kingdom.
The Cashroom has raised £500k in its first funding round from a business angel to support its expansion across the United Kingdom. Over the past five years, the firm has grown its turnover from £370k to £1.1m and established a client base spanning Scotland, England, and Wales.
The capital will be directed towards upgrading information technology systems, refining business processes, and establishing new operational hubs. These plans include opening two regional offices and a shared services centre in Belfast as the company targets a larger share of the legal support market.
From the founder
"Over the last 5 years we have proved our business model in Scotland, and over the last year, have proved it in England and Wales. Over the next 5 years we plan to grow our market share rapidly across the UK. This investment allows us to invest in IT systems and business processes, open 2 new regional offices, and open a Shared Services Centre in Belfast.."
David Calder
Managing Director at The Cashroom
Use of funds
- 01Build out infrastructure
- 02Expand into international markets
- 03Continue product development
Categories
About the company
The Cashroom
The company provides outsourced legal cashiering and accounting services to solicitors.