OakNorth has provided debt finance to fund the US expansion of a provider of executive search and talent advisory services.
TritonExec will use the finance to develop its New York City operation, where it aims to hire 19 people over the next year.
The business – which was founded in 2011 – uses data mining and predictive analytics to uncover trends in compensation, diversity and talent shortages.
It has assisted in the recruitment of candidates from all over the world, with most of its placements being made in the UK and USA (60%), followed by the rest of Europe and the Nordics (35%) and Asia (5%).
It also helps to determine which candidates are most likely to be successful in a certain organisation.
The company – which already has offices in London and Atlanta, USA – has clients including Capgemini, Accenture, EY, Deloitte, Gryphon Investors and Genpact.
Jonathan Morris and Ben Graham, co-founders of TritonExec, said: “Since our founding, we've been focused on a very simple strategy: employ multi-year agreements with flat retained fees to avoid the peaks and troughs that so many within our industry experience.
“Our big break came in the form of a $500,000 contract from Genpact to recruit 35 executives, and it's all been uphill from there.”
Mohith Sondhi, debt finance director at OakNorth, added: “Jonathan and Ben each have over a decade's experience in the executive search industry, and have known each other since they were five years old, so have a fantastic dynamic both as friends and founders.
“By embracing technology, they've managed to distinguish themselves in a highly competitive industry, winning major contracts that would ordinarily be the preserve of the 'big five' executive search firms.
“We're delighted to be funding their expansion and look forward to continuing to work with them in the future.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Metro Bank to open first store in Liverpool
Metro Bank is set to open a new store in Liverpool on Paradise Street...
Investec removes SVR from all new fixed rate mortgages
Investec Private Bank has removed the standard variable rate (SVR) on its two-, three-, four-, five- and 10-year fixed rate product range for all new clients...
Mid-size automotive manufacturers miss out on £25bn in revenues
UK mid-sized automotive manufacturers could be missing out on £25bn in revenues as a result of insufficient access to funding, according to research from Wyelands Bank...
Leek United hires new finance director
Leek United Building Society has named Rob Broadbent (pictured above) as its new finance director...
Handelsbanken posts 7% lending surge
Handelsbanken has revealed in its latest quarterly results that its UK lending increased by 7% to £21.1bn in Q1 2019 compared with the same period last year...
Al Rayan Bank expands Birmingham headquarters
Al Rayan Bank has expanded its operational headquarters in Edgbaston, Birmingham...
Cynergy Bank bolsters senior leadership team
Cynergy Bank has strengthened its senior leadership team with two new appointments...
Dispelling overseas property investment myths
When people talk about overseas buyers ‘snapping up’ UK property, assumptions about their supposed negative impact on the housing market abound...
Arbuthnot Latham appoints private banker to Manchester office
Arbuthnot Latham has announced the appointment of Barry Grieve as senior private banker to its Manchester office...
United Trust Bank launches exclusive broker promotion
United Trust Bank (UTB) has launched its 2019 ‘Live and Learn’ broker promotion...
Triodos supports extension of Bristol music venue
Triodos Bank has part-funded the £6.3m extension at the music venue St George’s Bristol...