PMGC gets £2.5m vote of confidence from Santander

PMGC gets £2.5m vote of confidence from Santander

PMGC Technology Group has been given a £2.5m investment boost from Santander.

The investment is a vote of confidence in the unified comms company which underwent a major restructuring this year cutting 20 jobs cut, closing three offices and introducing a 'Weightless' strategy of remote working.

The restructuring followed an aggressive buy and build’ drive by the company which saw it acquire six companies in 18 months.

At the time PMGC, which was created from the merger of Premier Mobile and Phonebox in early 2012, said its ‘Weightless’ strategy of working remotely and minimizing office locations would save it £200,000.

PMGC said the investment by Santander’s Corporate and Commercial division will help the company roll out its ‘Weightless’ strategy to its 3,500 customers, helping them use IT technology and infrastructure and remote working to maximize their businesses.

Shez Cheema, FD at PMGC Technology, said: ‘We are now able to offer customers a bespoke suite of solutions and services that transform business growth. We have created the Weightless Office - a fully managed cloud-based solution that enables our customers to operate more effectively regardless of location – for the first time, really changing the way they work. No more 9-5, no more office based working, no more ties to a singular location. The UK is famous for its entrepreneurial spirit and many of our customers have grasped this solution already. Seeing businesses deploy our new solutions and grow is hugely satisfying for us all at PMGC.

‘We have been very impressed with Mike Gahir and the team at Santander. They have worked very collaborately as trusted partners to PMGC and have behaved as no other traditional bank. The deal was handled smoothly and proactively, with our expectations managed at all times. We are looking forward to extending the relationship we have with Santander to help us in other areas of the business.’ 

Mike Gahir, relationship director at Santander Corporate & Commercial, said: ‘We have been extremely impressed with Shez and the team’s dedication to enhancing the business and their ambition for growth. The business has gone from strength to strength in the past two years and we are confident the funding we have provided will support its continued success.’

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