• Swindon & Wiltshire Support
• Thursday May 1 2025

Tech recruitment firm receives six-figure investment to grow business

A Bristol-based specialist tech recruitment firm has landed a six-figure investment package to help it expand.

Firmus Consulting, which has been operating for over 15 years, was established by IT and tech recruitment specialist Zak Upcott (pictured right).

The funding was received from the British Business Bank’s South West Investment Fund via appointed fund manager FW Capital to help accelerate the expansion of Firmus Consulting, boost working capital, and bring in two recruitment consultants.

It will also help with investment in the use of AI technologies to enhance Firmus Consulting’s recruitment processes.

“Business is booming,” said Zak. “I’ve recently secured a substantial new contract, and the increased workload has led to the growth of the business and the addition of two new team members.

“This is a significant step forward for us and the loan from the South West Investment Fund is helping to provide working capital which is enabling me to do this.

“Investing in AI is also something that is important, ensuring we keep pace with our peers and enhance our offering.

“The support from FW Capital has been great and I’ve been impressed by the speed of the process.”

Ben Donati (pictured left),  investment executive at FW Capital, who led the deal, said: “Zak has embarked on an exciting growth journey and is moving from being a sole operator to taking on new team members.

“His expertise in the tech recruitment sector has led to a significant uplift in work and as a result he sought funding to help take his business to the next level.

“Increasing the supply and diversity of finance for smaller businesses like Firmus Consulting is an important part of the South West Investment Fund. We’re helping Zak begin his next stage of growth with confidence.”

Lizzy Upton from the British Business Bank said: “Firmus Consulting’s expansion is a great example of how the South West Investment Fund is supporting ambitious businesses to grow, create jobs, and invest in new technologies.

“By providing access to finance, we’re helping businesses like Zak’s take the next step with confidence, strengthening the region’s economy and driving innovation.”

The South West Investment Fund covers the entire South West region and provides loans from £25,000 to £2 million and equity investment up to £5 million to help small and medium sized businesses to start up, scale up or stay ahead.

Fund manager FW Capital provides debt finance using the South West Investment Fund to businesses in Bristol, Gloucestershire, North and North East Somerset and Wiltshire.

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the region.