de Novo lands seven-figure HSBC UK facility to fuel AI push
What's the deal? Newport-based de Novo SolutionsDealroom has a profile for this one. Try Dealroom → has secured a seven-figure lending facility from HSBC UKDealroom has a profile for this one. Try Dealroom → to accelerate its AI development and expand into new markets. The company, founded in 2020, builds AI and digital transformation tools on Oracle Cloud and ServiceNow for public sector clients.
What's the endgame? de Novo is targeting 20% year-on-year growth in revenue and customer numbers. The funding will support new technology for local government and policing, including an Oracle-based solution already being rolled out at Cardiff Council.
Why now? The deal follows a run of recognition for the firm, which has twice featured in the Sunday Times 100 and won a St David Award from the Welsh Government in January 2026 for its contribution to the Welsh economy.
Founder and executive chairman Mark Sweeny said public sector bodies face "growing pressure to modernise essential systems while making budgets work harder." He added that the funding lets the company "bring new capabilities to market sooner and expand our customer base in the UK and internationally."
Dafydd Roberts, relationship director at HSBC UK, called de Novo "a great example of a Welsh business with strong foundations and a clear vision for growth."
The signal: Lending facilities are giving profitable UK tech firms room to grow without diluting ownership. Dundee's Snappy Group recently took a similar seven-figure facility from Virgin Money, a sign that debt financing is becoming a practical alternative to venture rounds for companies with steady demand.
Read more: bdaily.co.uk
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