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CIBC Innovation Banking Podcast

On our #CIBCInnovationEconomy podcast series, hear from leaders, entrepreneurs, experts and venture capitalists about the changing dynamics of the North American innovation economy

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Navigating Brexit and Beyond with Malcolm Locke of Egress and CIBC Innovation Banking’s Sean Duffy

Photo-Malcolm Locke and Sean Duffy
Malcolm Locke and Sean Duffy

Episode Summary

Malcolm Locke, CFO of UK-based B2B software service company Egress, sits down to discuss Brexit, expanding to North America and why the UK is still attracting investments. He’s joined by CIBC Innovation Banking’s Managing Director for UK & Europe, Sean Duffy, who adds his valuable expertise to the conversation. In a post Brexit and high-inflation environment, how can UK based firms grow and expand? Listen to this episode to find out. 

Episode Notes

Access to talent is critical

Malcolm says that Brexit has impacted software companies' access to talent. The European job market has traditionally been critical for talent acquisition, so UK based companies are re-evaluting their strategies. And while they can’t easily recruit from Europe, they also can’t easily send their trained employees to these markets either. That’s why many UK based companies are turning their attention across the pond to the  North American market. 

It's about efficiency, not growth

The era of ‘free money’ is over, and so is the mentality of growth at all costs. Malcolm and Sean say that investors are looking for efficiency. They will invest in companies that are using their capital wisely and making their cash impactful. 

There is still an active funding market

Despite the current market conditions, especially those in the UK, there is still funding to be had. As Sean says, money can’t just sit around. Companies need to have high parameters and show investors they aren’t cash burners. 

CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

CIBC London Branch (Reg. no. 141285) is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Registered at 150 Cheapside, London EC2V 6ET.

Show Contributors: 

Malcolm Locke

Sean Duffy


Michael Hainsworth


CIBC Innovation Banking