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It comes following Databarracks’ acquisition of Glasgow-based PlanB Consulting last month, which it completed to further enhance its Business Continuity and Resilience consulting practice.

This extra funding from Allica will give the London business the scope to continue its fast growth at a time when the need for business and cyber resilience has never been greater. Alongside investing back into its services and achieving organic growth, Databarracks says further acquisitions could be on the cards, too.

Jon Bennett, Allica Bank’s Growth Finance Sales Manager, who worked closely with the Databarracks team, said, “we’re delighted that Allica have been able to support Databarracks with this growth finance facility. By taking the time to understand their business and aspirations, we could see what a strong future they have ahead. We look forward to supporting them on that journey!”

Max Berglas, the dedicated relationship manager for Databarracks at Allica Bank, said, “Databarracks are an exciting London tech firm providing a vital service to UK businesses. I am really pleased to work directly with their team as they continue to expand.”

Simon Turner from SJT Advisory Limited, who helped Databarracks find the right lender and connected them with Allica, said, “Allica took a unique approach to understanding what the business wanted to do and its potential. Their customer-centric approach made them the ideal partner for Databarracks, who take a similar approach to their own clients. It’s fantastic to support such an exciting business and help futureproof their growth.”