Fast-growing Leeds cybersecurity company secures six-figure loan

Xentra, a rapidly expanding cybersecurity company based in Leeds, has secured a substantial six-figure loan from NPIF II – Mercia Debt Finance, managed by Mercia as part of the Northern Powerhouse Investment Fund II (NPIF II).

Xentra offers a comprehensive range of digital security solutions to clients across various sectors, including Leeds United FC, Leeds Bradford Airport, local councils, schools, and NHS bodies. The company is the third cyber venture founded by entrepreneur Henry Doyle, who previously co-founded Altinet and Boxphish.

Since acquiring a majority stake in Xentra in January, Doyle and Marc Fairclough, now Chief Operating Officer, have led a significant growth drive. The team has doubled its employee count to 14 and secured a number of high-profile clients. The current plan is to further expand the business by doubling its size within the next 12 months.

The funding will provide additional working capital to support Xentra’s growth and create new job opportunities. By the end of this year, the company aims to hire four to five new employees.

Xentra assesses clients’ individual needs and recommends appropriate security solutions to help them protect their networks and comply with standards like ISO 27001. The company offers managed services, including 24-hour monitoring, firewalls, email security, and storage. It also specializes in safeguarding schools and colleges, serving a total of approximately 125,000 pupils.

Henry Doyle, CEO of Xentra, said:  “As cyber risks increase, every organisation needs security but with so many different technologies and new threats emerging all the time, building the right infrastructure is a team game. Our experts help clients choose the right solutions and create a safe working or learning environment. The funding will help us deliver our customer acquisition strategy and continue our rapid expansion.”

David Wright of Mercia Debt added, “Xentra is a one-stop shop for all of an organisation’s cybersecurity needs. Henry has done a remarkable job to achieve such rapid growth in a matter of months and has built a strong management team. The NPIF II funding will provide the working capital they need to take the business forward.”

The £660 million Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and offers loans from £25k to £2m and equity investment up to £5m to support a range of small and medium-sized businesses.

The Northern Powerhouse Investment Fund II aims to drive sustainable economic growth by supporting innovation and creating local opportunities for new and growing businesses across the North of England. The fund will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.