DP CONNECT LIMITED
DP Connect is a specialist, technology-focused recruitment business with a particular focus on the fintech sector. Taking training to a new level, they launched two academies for local young men and women in 2018, educating their future consultants to be genuine experts in their sector. The funds raised will act as working capital to pay more trainees and expand the programme.
Uniting talent and technology.
As a financially strong business, we have made a conscious effort to invest in local young men and women. We set up two academies in 2018, taking in young people and training them up into expert recruitment professionals, who we then employ directly. While this has slowed sales growth, as it takes time to train them, it has improved margins by decreasing the wage bill. Moreover, having consultants specifically trained in the “DP way” improves our client experience and therefore retention.
Our academies are based in our head office in Bromley and our satellite office in Cambridge. It has been working very well so far and we are just about to take in four more trainees on full-time contracts. We want to expand the academy, enabling us to take on more trainees and potentially open up another site. The funds raised will provide working capital to pay more trainees as well as expand the programme.
A. As a tech focus business we try to work with companies & platforms leveraging technology where possible. C2F understand our business better than traditional direct lenders, and at this level of funding, the fees & related costs are considerably more proportionate although the headline rate maybe a little higher.
We want to engage with multiple private investors, and C2F allows us a route to do that, and as a more established company we hope to be recognised as a really attractive proposition.
A. Hi Alan
Recruitment Companies typically have a high turnover figure with low profit margin, especially those that focus on contract recruitment.
With a contractor we could get £20k in revenue in a month, but pay the contractor £18k as a direct cost of sale.
With a perm hire, we would get the £20k one off perm fee with no direct cost of sales. So depending on the mix, the profit margin will be quite different.
Contract revenue is still desirable as it provides an ongoing revenue stream.
A. Hi Ellis
TMA Investments Ltd owns Talent and Technology Group 100% which owns DP Connect Ltd 100%.
T&T Group was the holding company (DP Connect / DP Contracts / DP Perm & DP Managed Services) - which now all run through DP Connect Ltd.
TMA is the company that was set up to purchase T&TG when the CEO did an MBO in 2017. It is TMA that had a investment to finance the sale - loaned via inter company to DP Connect.
Total Group Net Assets position = £945,745
Total Group EBITDA = £453,966
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"Uniting talent and technology."
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