Lichfield-based roofing specialist takes AI ambitions to new heights thanks to funding from HSBC

A Lichfield-based roofing specialist is upgrading its tech capabilities thanks to a £400,000 funding package from HSBC UK.

The six-figure deal will enable Hera Waterproofing, a specialist commercial and industrial flat-roofing refurbishment business, to invest in its long-term growth.

The funding package from HSBC UK will be used to develop the business’s in-house software expertise, accelerating the development of CoreOS, the company's market-leading AI software for building surveyors.

The increased capability will support the next phase of the platform's development, introducing new legislation and compliance features. Designed to help building surveyors manage large and complex estates more efficiently, CoreOS helps clients make better use of resources amid the UK’s construction skills shortage.

The deal, which is supported by HSBC UK’s trade facility, marks the start of a new banking relationship between HSBC UK bank and Hera Waterproofing, with the company’s existing lending refinanced to support its next stage of growth.

With turnover forecast to rise by 150 per cent, the new funding will give the business greater capacity to invest, including increasing imports of specialist waterproofing materials from its existing supply chain across Europe.

Phil Chell, CEO and founder of Hera Waterproofing, said: “The skills shortage is one of the biggest challenges facing our industry, and it isn’t something we can solve through recruitment alone.

“HSBC UK’s funding gives us the capacity to invest in how we respond to that challenge, particularly in how technology can help our clients and contractors make better use of the skills and experience already within the sector. Having that backing means we can accelerate those plans and invest with confidence in the next stage of our growth.”

Sean Dyer, relationship manager at HSBC UK, added: “The construction industry has traditionally been slower than other sectors to adopt digital solutions, but technology has a significant role to play in addressing some of the industry’s biggest challenges.

“Turning that potential into practical solutions requires investment and access to the right funding. We’re pleased to support Hera Waterproofing as it continues to develop its AI offer, while giving the business the flexibility to invest in its wider plans and pursue new opportunities.”

Established in 2023, Hera Waterproofing, based in Greenhough Road, Lichfield, works with building surveyors, facilities management providers and estate managers to deliver tailored flat roofing solutions, from planning and material sourcing for subcontractors to ongoing monitoring through its in-house technology platform.