The Phone Co-op
5 The Millhouse, Elmsfield Business Centre, Worcester Road, Chipping Norton, Oxfordshire, OX7 5XL, United Kingdom
Overview
The Co-operative Phone & Broadband, The Co-operative Mobile and The Co-operative Business Telecoms are all provided by The Phone Co-op, an independent consumer co-operative based in Chipping Norton, with offices in London and Manchester.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Internet
- iOS
- Mobile
- Telecommunications
Investment portfolio
- HCT Group
Participated · Equity · Dec 2015
HCT Group is a UK social enterprise providing transport services for marginalized people and communities, funded by revenues from commercial bus contracts. Its operations include London red buses, social services transport, school transport, whole bus networks, community transport, and education and training. The company reinvests profits from commercial work into additional transport services and community projects. HCT currently operates a fleet of 732 vehicles across 13 depots and delivers over 30 million passenger journeys per year. Founded in 1982 and led by CEO Dai Powell, HCT recently secured £17.8m to provide working capital and accelerate rapid expansion. The funds will also be used to acquire commercial bus operators and convert them into social enterprises as part of growth plans. HCT Group operates buses in the UK, delivering transport services with a stated social impact focus. The company intends to use new capital to fund growth, purchase vehicles and depots, and improve infrastructure. HCT is exploring private‑sector acquisitions and plans to deepen partnerships with local authorities to expand services. Historically, a £4m investment in 2010 helped grow turnover from £26m to £46m; that earlier investment was repaid in full and met a 7% financial return target while achieving impact goals. The article describes HCT as one of the few scalable, profitable and sizable impact businesses in the UK. Advisers and supporters on the transaction included ClearlySo, legal adviser Bates Wells Braithwaite, and grant support from the Investment and Contract Readiness Fund (ICRF). HCT Group is a London, UK social enterprise that provides public transport services and related training. The company uses innovative financing structures and has raised capital through instruments linked to social impact. It has secured funding to meet its capital requirements for the next three to five years. HCT recently raised funds via a Social Loan whose returns can vary with the organisation’s turnover. The current fundraising round is structured to include both a Social Loan and a traditional fixed-rate loan. Investors participating in the financing are social-impact and specialist fund managers supportive of HCT’s mission.
Team
No current team members are available.