toob Limited (“toob”) a brand new full fibre broadband provider, has hired Smith & Williamson to provide full financial outsourcing services. The South Coast based business recently secured a huge investment of £75m.
Smith & Williamson will be providing a full financial outsourcing service, including statutory accounts, monthly management reporting and tax compliance. toob will invest £50m in Southampton to deliver the city’s fastest broadband service over a full fibre network as an alternative to the city’s current copper-based infrastructure, meaning that residents and businesses will benefit from download speeds 20 times faster than the UK average.
Amy Harper, Associate Director at Smith & Williamson’s Southampton office, said: “We’re very excited to be working with toob, they’re an ambitious new business and will be making such a difference to the connectivity in the city.”
Mike Banwell, CFO and Founder of toob, said: “We are delighted to be working with Amy and the team at Smith & Williamson. Their financial outsourcing service is a fundamental building block for a new business such as ours where quality and scalability is essential.”
toob is led by an experienced management team of telecommunications professionals, and aims to deploy its network to more than 1 million premises over the next 10 years.
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Notes to editors
Smith & Williamson is a leading financial and professional services firm providing a comprehensive range of investment management, tax, financial advisory and accountancy services to private clients and their business interests. The firm’s c1,800 people operate from a network of 12 offices: London, Belfast, Birmingham, Bristol, Cheltenham, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton. Smith & Williamson is part of The Tilney Smith & Williamson Group.
Smith & Williamson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. Smith & Williamson LLP is a member of Nexia International, a leading, global network of independent accounting and consulting firms. Please see https://nexia.com/member-firm-disclaimer/ for further details.