Read about some of our successes
It's always pleasing to report some good news stories, particularly as we close out the year. Our client has just completed their funding round, this being the concluding element to a merge between themselves and a similar sized competitor. The capital raise is further supported by the Government’s Future Fund and will result in new capital in excess of £1 million moving into 2021.
|Business & Professional Services||UK||Growth Capital||£1million|
We first worked with our client in 2018 as a pre-revenue business. We sourced and helped arrange a seven figure debt facility from a private fund, sourced early equity as well as other practical support to enable the business to start trading.
Having remained in close contact with the client, we were pleased to help through the summer and autumn, bringing in an additional £300,000 from our investors to compliment funds already committed in the merge. In addition to investment, one of our investors has accepted the post of Chairman and as a highly experienced FTSE100 CEO, he will provide strong governance and excellent advice, guidance and direction for the combined business.
Our client is an innovative low risk financial benefit provider that mirrors the well-established and already booming salary advance market in the US. Their model incorporates not just a salary advance offering, but also third-party financial planning and credit union loans and a soon to be launched E-Money Debit Card. Our client uses a tripartite agreement between the employer, employee and the Company, thus ensuring the salary advances are repaid directly from the employee’s salary.
The CEO commented ,“By merging the companies we are able to deepen the Financial Education service and offer Financial Coaching to workers. Financial Education is seen in the market place as vital to a Wellness product and having the ability to provide an IFA approved Financial Education product gives us a unique offering versus the competition.”
We’ve taken part of our reward in shares and will be monitoring progress closely in the period ahead. We wish them all the best for the future.
We are always pleased to work with existing clients as they progress on their journey and in this case, we are delighted that one of ...
Our client, a growing healthtech business, was referred to us to raise a working capital bridge in order to accelerate sales growth prior to a ...