SKS Business Services secures investment with F&P Sponsors

Accountant SKS Business Services has secured an investment of more than £450,000 to complete three acquisitions from F&P Sponsors.

This funding will also be used to expand its service offering with hopes of growing its turnover sixfold from £500,000 to £3.3m in three years.

SKS has developed a business model whereby senior staff in a UK based office supervises the work processed by an office located in a lower cost country or city in the UK using cloud-based technologies to ensure maximum efficiencies via remote working.

The funding provided by F&P has enabled SKS to acquire two accountancy firms in Tunbridge Wells and Tilehurst, and an insolvency practitioner in Crawley.

There are now more than 250 F&P borrowers who have secured some £100m in peer-to-peer (P2P) funding.

Sanjay Swarup (pictured), director at SKS, said: “P2P has proved to be the perfect model for us as a business at this stage of our development.

“Thanks to F&P, SKS has a strong financial footing and our potential growth is extremely exciting for the future.”

Ivor Freedman, director at F&P, added: “P2P funding has now raised more than £8 bn for British businesses – £1bn in the Q1 of 2017 alone – and there is the appetite to fund even more!”

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