Empowering Businesses Through Innovative IT Solutions. Returning C2F Client. Perfect Repayment History. | Akoni Technologies

Akoni Technologies is an IT consulting and resourcing company dedicated to solving business challenges through bespoke digital solutions. Guided by core values of care, transparency, innovation, and accountability, Akoni works with clients to enhance efficiency and cost-effectiveness in their operations.

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To unlock the full potential of our customers' businesses and bring them the best user experience possible

At Akoni Technologies, we are passionate about leveraging technology to address unique business needs. Whether it's implementing digital workflow solutions or assembling a team of experts to drive businesses forward, we tailor our services to meet business objectives.

Our commitment to care ensures we go the extra mile to deliver exceptional service, fostering trust and building strong relationships with our clients. Innovation is at the heart of what we do. We continuously seek out and implement the latest technological advancements to provide cutting-edge solutions. Our accountability means we stand by our commitments, take responsibility for our actions, and consistently deliver on our promises, ensuring reliability in every interaction.

As the founder of Akoni, I have leveraged my extensive experience to build a company that prioritises success. We understand that in today's fast-paced digital world, businesses need reliable and innovative IT partners to stay ahead of the curve. We aim to help companies navigate the complexities of the digital landscape by empowering them with first-class IT services and teams that drive their business forward. We are currently raising funds for expansion.

Credit Commentary:
Based in Reading, Akoni Technologies provides IT consulting and resourcing services. Some of the prominent IT services they offer are Service Now Implementation, Cloud Solutions, Integrations, Enterprise Development, and Artificial Intelligence to help businesses digitalise and enhance their modus operandi. The business was incorporated in 2019, holds an Equifax score of B, and falls under the “Lower Risk” category under the Crowd2Fund credit grading matrix. It is a returning client with C2F. The sole shareholder, Mahesh Kumar, is providing a personal guarantee, which means that if the business fails to repay the loan, we can turn to the guarantor to cover any shortfall. The director has a good credit profile and is a homeowner.
Looking at the financials, the company posted an impressive growth in its turnover of 39% in FY2024 (31 May-ending period) of £816K (FY2023: £585K), which translated into an increased Operating Profit of £116.8K (FY2023: 85.8K). Net Equity was recorded higher at £120K (FY 2023: £38K). The company has secured a lucrative contract with a public sector organisation for the next 2 years, which will enable the company to post a healthy operating profit in the foreseeable future, and therefore, the EBITDA generated will be sufficient to cover the proposed loan facility. The company has amassed further loans as well to support the working capital needs with additional contracts secured, which will take its gearing to more than 70%. The company will utilise loan proceeds to hire resources to cater to the project. In addition, the company is looking to hire more marketing and sales staff to support the expansion of the business.

Inflation Risk:
According to management, the business is not affected by inflation and has already locked in the margin rate for its contracts.

AKONI TECHNOLOGIES

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AKONI TECHNOLOGIES

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