Toople Signs Nine New Partner Agreements
Telecom services provider today announced it has signed a total of nine new partner agreements.
The agreements are with third parties across the UK to provide Toople’s services on a wholesale basis to its network of partners and customers.
These partners include specialist telecoms resellers, utility, chip and pin, fuel, energy and mobile providers to SMEs based in places including Birmingham, Blackpool, Bolton, Bradford, Leicester and Norwich.
The news comes nearly a month after Toople’s stock rose 250% after announcing a major new wholesale contract with a “well-known reseller” based in the South of England.
The contract duration was for an initial three years and is expected to deliver at least £3.5m in additional revenue to the company over that period.
Speaking about the latest set of nine partner agreements, Toople CEO Andy Hollingworth said: "Since our last trading update we have seen a material increase in the number of partner agreements in place across the UK.
“Wholesale is an important channel for us to develop to help support our organic growth strategy. We are increasingly signing deals with partners from a variety of industries to provide white label services.
“These resellers have access to Toople's own Merlin platform, which allows them to connect with carriers and to provide billing services to their own customers seamlessly.”
Toople offers telecoms services to SMEs across the UK, delivering broadband, VoIP and landline services, as well as mobile phone packages.
The company’s site is powered by its proprietary Merlin software, a cloud based telecoms resourcing platform that acts as a portal for transparent, live pricing for services across the main four providers.
Speaking about Toople's offering, Andy Hollingworth said: "Small business customers increasingly seek value and pricing certainty and this creates a real opportunity for a value challenger, offering simple, affordable, reliable, good customer service and fair connectivity.
“We are continuing to demonstrate the attractive nature of our partner proposition and these new agreements are expected to provide a significant positive impact on both wholesale orders and revenues.”
In May, Toople announced an impressive set of interim results, posting a 10% increase in revenue for the six months ended 31st March 2018, compared to the second half of the 2017 financial year.
Toople also saw a 63% increase in orders of revenue-generating units, and a 38% increase in billable customers.
Customer revenue from SMEs also grew by 54%, pushing a 7% increase in gross profits for the telecoms business.
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