Glasgow Business Secures Second Loan to Open Premises in London
31 Oct 2019
Video technology business, Odro, are set to embark on a new venture of opening a London office after securing a £50,000 loan from Business Loans Scotland.
Providing their video technology solution to recruiters in countries across the globe including Australia, US, Singapore and the Netherlands, it’s safe to say the Odro brand has come a long way since the early days of the business when it was ran from the home of Founder and Director, Bill Scouller.
Identifying a need for a product of its kind in the recruitment industry, Odro was formed with an aim to help recruiters all over the world stand out from the competition, win more business and engage more talent.
Securing their first loan of £40,000 from Business Loans Scotland in March 2018, Bill was able to implement the business’ strategic growth plan which in turn saw an increase in both staff members and clients who were embracing Odro’s video technology solution.
18 months on from the initial investment from Business Loans Scotland and the team at Odro have recently secured a second loan, this time for £50,000, to support the business’ expansion to open a brand new London office to support their vast array of clients in the city.
Speaking of the second loan received, Bill Scouller, Director of Odro said:
“The BLS funding has been invaluable in the growth of Odro. The funding has contributed to the creation of new roles within the business and we will have grown from 12 staff to approximately 25 by the end of 2019.
“In addition, our revenue has grown by over 100% in the past year. Additionally, we have doubled our customer base and now have clients in US, Singapore, Hong Kong, Australia, Germany and New Zealand. It is vital for early start businesses to have access to funding in order to grow the business and maximize the opportunity to create both jobs and grow company revenue.”
Andrew Dickson, Fund Manager of Business Loans Scotland added:
“It’s fantastic to see that our initial £40,000 investment in Odro has had such a positive impact on the growth of the company and therefore I’m delighted that Business Loans Scotland has been able to support Odro once again with a further loan of £50,000.
These loans secured by Odro demonstrate our commitment to supporting small and medium sized enterprises with finance to grow, and I look forward to watching Odro flourish as the business embarks on this exciting new venture.”
Find out more about Odro’s success by watching their latest video here.