Two contracts for cloud firm

Beeks poised for growth after securing million dollar deal

Gordon McArthur

Gordon McArthur: significant growth opportunity

Beeks Financial Cloud Group, the Glasgow-based cloud computing provider for financial markets, has secured its first $1 million annualised contract – one of two seven-figure deals.

The first is a SasS-based contract with a global financial markets technology provider, and the second is a £1.1m contract over three years with a cloud-based payments solution provider.

The SaaS contract will start in January and is committed to grow to a run rate of $1 million annually, with the potential for further expansion thereafter.

The second contract is the first win for Beeks in the growing open banking and payments sector. 

AIM-quoted Beeks, which recently moved from Linwood to Hillington, will design and supply a private network and fully managed infrastructure environment, enabling the payments provider to expand its secure and resilient end-to-end payments-as-a-Service solution for financial institutions and regulated fintech organisations.

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