28 Mar 2018
Funding groundbreaking digital services for InLink Ltd
Find out how we worked with a new joint venture to unlock the potential of a unique and exciting new digital product that will replace payphones on the streets of the UK’s major cities.
InLink Ltd. is a joint venture between Primesight and Intersection that has secured a contract with BT for advertising of its estate of 46,000 payphones across the UK, and will have access to around 18,000 current static advertising sites. It is a multi-faceted business that is looking to utilise payphones in prime locations around London and large UK cities, replacing them with units called ‘InLinks’. The new service - InLinkUK from BT - will provide ultrafast, free public Wi-Fi, phone calls, device charging and a tablet for access to city services, maps and directions.
InLinkUK from BT is completely free to use because it’s funded through advertising. Its groundbreaking Digital Out of Home (OOH) advertising network provides brands with a rich, context-aware platform to reach UK residents and visitors.
Despite both Primesight and Intersection being established companies, InLink was a start up venture with no trading history with a completely unique asset in a developing market and needed to fund the rollout of the ﬁrst 200 InLinks.
Helping fund new ventures is in the DNA of Close Brothers, and it’s also true of the Technology Services team. Using his extensive technology and structuring experience, Steve Nichols - Relationship Director, worked closely with key stakeholders, agreeing a multi-million pound deal to fund the full installation and equipment costs, helping ease cash ﬂow concerns, working with other ﬁnancial institutions and speeding up the rollout process.
With the funding now in place, the ﬁrst 200 InLinks are starting to be installed, including the ﬁrst InLink outside of London which has been commissioned in Leeds.
As the expansion plan moves to the second phase a further 550 InLinks will be rolled-out in the ﬁrst three years of the ten year contract, with advertising space sold on the InLink’s digital screens. In addition to advertising, the InLinks will provide free Wi-Fi, charging point capabilities, environmental monitoring, phone services and an emergency services distress button.
‘Working with Steve and the Close Brothers Technology Service team was a real pleasure. They took the time to really understand the business and worked hard with us to create a bespoke solution which met all the operating and financial criteria we were looking for. Their understanding of the technology and their ability to react quickly, enabled the creation of an outstanding financial solution.’’
Monica MacKinnon, Chief Finance Ofﬁcer at Primesight Ltd & InLink Ltd.
This project included: Technology Funding