Wireless Business ISP Urban WiMAX Moots Growth After Funding Boost

London-based business ISP Urban WiMAX, which specialises in delivering a mix of wired and or wireless (wimax and microwave) broadband / Ethernet solutions to around 500 customers, last month secured additional investment worth £2.15 million through Santander’s Breakthrough programme and is now planning for their future growth.

Santander states that the service, which was founded by Sasha Williamson and Richard Robb in 2006, has grown its turnover every year since inception and boasts a gross margin of 70% and an Ebitda profit margin of around 25%. Apparently the new money will help to create 15 new jobs, upgrade their services and there are also plans for a marketing campaign to raise the ISPs profile.

Sasha Williamson, CEO of Urban Wimax Networks, said:

“Since starting the company, Richard and I have strived to provide best-in-class telecoms solutions to businesses in central London. Santander’s Growth financing has enabled us to upgrade to next generation networks and services to cater for the SME sweet spot of ‘Always On’ secure internet connectivity, infrastructure and software as a service.

We have been lucky enough to work with multinational companies such as Google and Hilton Hotels & Resorts through to smaller firms including Design Bridge. Our ethos for the business has always been to provide first-rate services coupled with outstanding customer service.”

The new funding includes £1.1 million of Growth Capital investment, which is “mezzanine-based finance at a low rate to help bridge the gap between debt and equity investment“.