Cloud-based banking software company nCino has taken new office space in London’s Square Mile amid wider European expansion plans.
The US-based company has taken 18,294 sq ft on the third floor of One Crown Place, EC2. It has signed a 10-year lease with landlord AlloyMTD, a subsidiary of MTD Group.
nCino will be vacating its current office in Borough, where it occupies flexible office space in Workspace’s Metal Box Factory at 30 Great Guildford Street, SE1.
The move comes after the Nasdaq-listed fintech firm said it “made a significant investment in headcount to drive growth and service customers in the EMEA region” in its annual results documents filed with Companies House.
This followed a £2.6m pretax profit for the year ended 31 January 2023, a significant turnaround from 2022 when the company recorded a £600,000 loss. Turnover was also up, with the company “still in growth phase”, as it recorded £27.5m and £21m for 2023 and 2022 respectively, while the average number of employees rose from 124 in 2022 to 149 in 2023.
Charlie McIver, managing director for EMEA at nCino, told EG: “nCino’s growth trajectory in the UK and throughout EMEA continues to be strong and reflects our commitment to providing innovative solutions to the financial services industry.
“To accommodate this exciting phase of growth and better serve our employees and clients, we are expanding into larger office space in the City. We are looking forward to moving into One Crown Place later this year.”
JLL acted for nCino.
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