V7 Recruitment secures £2.8m funding from Cynergy for growth plans

Manchester-based specialist recruitment agency V7 Recruitment has secured a new, flexible £2.8m asset-based lending (ABL) facility from Cynergy Business Finance (CBF).

Founded in 2017, V7 Recruitment, which also has an office in Germany, provides bespoke services to a range of industries including aviation, construction, utilities and fire & security. 

The business moved into larger offices on Lever Street in Manchester at the start of last year, providing additional capacity for its growing team of more than 20 people.

As reported by Recruiter, the business also completed a management buyout during 2022. Providing a renewed focus, the MBO enables the team to continue with its international expansion, bolstering its current German office, along with plans to expand into the US by 2027.

To help achieve this growth, the business required additional cashflow support to increase sales and profitability and expand its service offering. The blended approach by CBF allowed the business to secure £300k of cashflow loan support, as well as a £2.5m ABL facility.

Looking ahead, the business will continue to bolster its team; its new Academy will recruit six graduates over the coming months, boosting early-career opportunities in the region and enhancing its training and development offering.

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