February 19 ,2016 | by Claire Payne

Barclays finance scheme helps Leicester-based company to grow

Barclays finance scheme

A Leicester-based software company has recently received funding from Barclays, enabling it to go ahead with plans to grow.

Synety Group, a specialist software firm that provides cloud-based computer telephony integration for lawyers, accountants and recruitment companies, has secured a £900,000 loan as part of Barclays’ finance and innovation scheme.


The initiative, which is backed by the European Investment Fund (EIF), provides financing of up to £5 million for innovative companies that “promise high-growth.”

Synety Chief Executive Simon Cleaver said: “This facility gives the company further capacity for its growth strategy.”

He added that it is “very refreshing” to be working with an organisation that “understands the needs of a fast-growing technology business.”

Originally set up in 2012, Synety has gone on to achieve success, with revenues rising to £3.33 million last year. This gave the company a cash balance of £1.58 million at the end of the year - but it is yet to make a profit.


Cleaver stated that the company is now focusing on “larger customers, key partners, cash generation and reaching break-even.”

“As this more focused strategy continues to feed its way into the business, we are encouraged by the improvements that we are witnessing,” he said.

He added that “concentrating on a limited number of strategic partners” and “targeting sweet-spot customers” is enabling the company to “develop stronger relationships” and provide a better experience for customers.

Claire Payne

Claire Payne is a journalism graduate and News Writer for LSBF. She writes about SMEs, education and careers, entrepreneurship, women in business, and sustainability.

Share on Facebook Share on LinkedIn
There are no comments posted yet. Be the first one!
Please write your comment, minimum length 50 characters
Please insert your name
Please insert a correct email address
We couldn't process your comment, please try again later