Syscap has secured an additional £75 million (€83.1 million) in finance with a UK bank which, the IT financier said, will be used to help its customers to fund IT investment delayed by the onset of the downturn.

“We are delighted to have been able to secure this additional new funding line to support a recovery in demand,” said Philip White, chief executive of Syscap.

“This considerable new funding facility for IT investment will bring some reprieve for vendors whose ability to make sales has been seriously hampered by the drying up of funding over the past two years,” he added.

This additional £75 million in funding comes on the back of Syscap’s recent success in renewing and securing additional capacity with a number of institutional lenders. Indeed, in July, the IT finance provider secured a £50 million for professional services firms.