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Toople bags £100,000 for mobile phone services

Published: 11:54 31 May 2016 BST

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Toople also plans to start selling O2 and Vodafone services in addition to EE

Small business telecoms supplier Toople PLC (LON:TOOP) has secured £100,000 of funding to help it launch mobile phone services.

Toople has done a deal with Henry Howard Finance plc (HHF) for a cash advance that would allow it to offer mobile handsets to its customers without the need to use existing cash resources.

HHF will provide leasing arrangements to allow Toople to recover the cost of the handsets shortly after it has sold a mobile phone package contract.

Toople also said it would start selling O2 and Vodafone services, in addition to EE services, five months earlier than expected.

It expects to launch the mobile services around the end of June.

Chief executive Andy Hollingworth said: “We are very pleased to be able to accelerate our mobile offerings.

“The leasing arrangements and the cash facility allow us flexibility of funds without needing to worry about peaks in any orders we receive.

“This, in addition to obtaining two extra mobile networks, should allow Toople to offer a great combination of services."

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