October 5, 2021

Technology rental group, Hiya! actions scale-up phase after raising £12.5m

·      Fundraise: Strong endorsement of business model from leading specialist finance team, Quilam Capital*, with £12.5m growth capital

·      Scalability: Nationwide roll-out with market leading brands to deliver 300,000 UK contracts

·      Connectivity: Provide access and connection to help improve the lives of low-income UK families, a market size of 8.4 million[1]

 

12 October 2021, London: Technology rental group Hiya! announced an investment raise of £12.5 million to spur its’ subscription base scale-up through a UK-wide rollout with an initial broader range of television, mobile and tablet rental products.

 

Graham Clarke, CEO at Hiya!, commented: “Now more than ever, customers value convenience, flexibility and sustainability when they shop for and use products and services. Our products include bespoke technology which together with our own automated platform and systems allow us to deliver a fair and flexible proposition to our customers and the rental proposition suits their’ financial and personal circumstances.

We can now bring these possibilities to even more people across the UK, continuing to deliver an unparalleled customer experience, for our subscribers to access and benefit from the new technology.”

 

Sarah Watts, Director at Quilam Capital said;

“Hiya is plugging an increasingly important gap to provide UK families with the flexible option to access to the products and services they need through combining the very best of streamlined technology with specialist customer service. We’re delighted to be supporting the business at this very exciting stage of their journey as they commence their nationwide roll-out“

 

Najib Nathoo, Chair at Hiya ! added : “We have come a long way in a short period and are very happy to be working with the team at Quilam to help with our ambitions of providing fair and simple access to technology products mixed with an unparalleled service. This is a key time in our journey to help more fully focus on improving the lives of our customer families.”

 

*Quilam Capital provides flexible investment for alternative finance companies, fintechs and platforms. It combines targeted financial solutions with expert guidance and advice, working alongside clients, helping them overcome challenges and accelerate their business performance.

 

The core team has 36 years’ combined sector experience with a leading track-record of investment, making Quilam the go-to specialty finance partner, having completed over 100 transactions across the investment spectrum. The wider management team also offers corporate finance and operational expertise to provide a full range of private equity services and executive support.

[1] 8.4 million people are over-indebted & 22% of UK adults have less than £100 in savings [Money Advice Service]