Property tech firm Nimbus receives funding for expansion

Nimbus, a technology company based in the Warwick, has received funding from NatWest to support its expansion and development. Co-founded in 2015 by brothers Paul and Simon Davis, the company, which now has a team of more than 60 people, provides a property mapping platform called Nimbus Maps.

The company secured an intellectual property (IP)-backed loan from NatWest, which will be used for AI-driven developments across the business. Nimbus also plans to hire five new specialists to help develop its proprietary IP. Simon Davis, co-founder and co-chief executive of Nimbus, said,

“The IP loan is a game-changer for us, enabling us to rapidly invest in the next generation of technology to keep delivering cutting-edge solutions for our customers. We’re really proud of what we’ve achieved so far but we and the team have so much further to go. It is great to get the support and insight from NatWest and the recognition of all our hard work. This funding will help us with our visions to build the future for the real-estate sector and beyond.”

Alyson Poulson, a relationship manager at NatWest who led the deal, said, “Supporting Nimbus with this IP loan has been a really rewarding experience. Their commitment to innovation and growth aligns perfectly with our mission to back businesses that are driving the UK economy forward with creative funding solutions that enable growth. Paul and Simon are brilliant at what they do, and we look forward to seeing what they go on to achieve.”

Neil Bellamy, head of technology, media, telecoms (TMT) for NatWest Group, added, “Nimbus’ use of the NatWest IP-backed loan is a key example of how NatWest is contributing to this strategy by helping IP-rich firms accelerate investment and expand internationally without diluting ownership.”

Image source: Nimbus