Online software and mobile applications developer Mobile Rock.it is planning to hire five new staff, following a move to Newton Aycliffe.
The firm secured a £150k commercial mortgage from HSBC and also received a grant from the Teesside’s Lets Grow Fund but needed additional finance from HSBCs to finalise the purchase.
The business, which was based in Stockton but has now relocated to Aycliffe Business Park, services over 500 clients including many in the education sector.
Mobile Rock.it will use the available space to hire up to five new staff to cope with demand for their services and support the growth of the business.
Plans to upgrade the premises have already begun and will see the firm rent out part of the office space and build their own boardroom for meetings.
Co-founder Adam Lee said: “We’ve been looking for a suitable premises for two years now and to have finally secured our own space at Parson’s Court is brilliant.
“We are experiencing increased demand for our products especially mobile apps and need more staff to help us meet this.
“HSBC completely understood our need to accommodate both long and short term expansion plans. The office not only allows us to hire staff to meet demand now but ensures we have the capacity for future growth.”
The finance from HSBC was allocated from the bank’s national £10bn SME fund to actively support UK SMEs – £300m is specifically designated to support North East firms to help rebalance the economy outside of London.
David Slane, Head of Business Banking for Tees and Cumbria, said: “Mobile Rock.it is a really innovative company in a market where mobile web and app usage continues to grow.
“This is a fast moving industry so it’s brilliant to see a North East company continue to expand and stay ahead of the game. We’re committed to meeting customer’s evolving expectations and needs and will continue to work with Mobile Rock.it to support its future development.”