Software developer based in historic village of Saltaire gains funding to boost growth in US

BTL, a provider of assessment services and technology, will use the funding from HSBC UK to develop its “Surpass” assessment platform, which provides awarding bodies within the education sector secure technological services, both in the UK and overseas.

A spokesman said: "Having recently moved headquarters into a larger facility in Salts Mill, Saltaire, Bradford, BTL will use HSBC UK funding to grow its development team and expand supply to new marketing verticals. The investment will primarily be used for software development in language testing, as well as continued development of additional frameworks for user-customisable question types in the finance, healthcare and general qualification sectors."

The HSBC UK funding will support the company’s global growth, including supporting continued expansion in the US, as well as entering new markets in South Africa and South-East Asia and expanding into new markets in the US and Middle East.

The spokesman said: "As a result of HSBC UK funding, BTL is anticipating an underlying 15-20% year on year increase in recurring revenues with potential for additional large one-off revenues following significant improvements to both their Surpass software and surrounding services."

Sue Harris, Finance Director at BTL Group, said: “As BTL continues to grow in size, we’re hugely grateful for the support from HSBC UK in giving the business a strong foothold to develop our market-leading technology and take bigger strides into new markets.

"The investment from HSBC is a fantastic opportunity for growth, as all profits made from this package will go back into the business and allow us to grasp new opportunities. Expanding our global presence is a key priority over the next five years and this funding will accelerate our international growth to exciting new levels.”

Jamie McCullough, Corporate Relationship Director at HSBC UK, added: “As a local business furthering its global expansion, BTL has demonstrated rapid growth over the past few years with an innovative approach to technological development and a genuine passion to improve assessment in the education sector. We’re delighted to support the business as it continues to grow internationally as a market leader in the assessment industry and this deal reinforces our innovative commitment to the tech sector.”

Established in 1985 and based in the UNESCO World Heritage Site of Salts Mill, BTL Group Ltd, provides computer-based testing technology.