London lighting company receives £10m funding to protect jobs

A London lighting company has announced that it has received £10m of funding to help protect more than 1,500 jobs.

Dialight has protected more than 1,500 jobs globally following a £10m working capital facility from HSBC UK during the COVID-19 pandemic.

The multi-million pound funding from HSBC UK will provide Dialight with liquidity security during the pandemic recovery period and will enable the business to continue its focus on development.

Fariyal Khanbabi, CEO at Dialight, commented: “Every business has faced different challenges during COVID-19. For us, it impacted order numbers as companies looked to consolidate costs.

“The funding from HSBC UK gave us a safety blanket during this time, enabling us to supply our critical infrastructure customers.”

Simon Griffin, relationship director at South and West London corporate banking, HSBC UK, added: “It has been excellent to see Dialight continue to invest in sustainable developments despite the challenges all businesses currently face.

“HSBC UK is committed to supporting companies seeking environmentally friendly solutions and the team is extremely pleased to continue to support Dialight throughout its journey.”

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