News

A business leading the way in supporting providers of financial services with their digital transformation by simplifying the process of understanding the financial DNA of small businesses, has secured a £1million loan from the Greater London Investment Fund (GLIF).

Validis has created Software as a Service technology, ‘Datashare’, which connects to existing accounting platforms used by small businesses. This enables banks and accountants to automate the reporting and analysis of business financials, allowing them to improve the quality and speed of audits and intelligence of lending decisions for small business customers. 

Validis has already achieved considerable growth and the £1million GLIF loan will be used to support an increase in headcount as well as further product development.  The management team, led by Non-Executive Chairman, Don Robert, have considerable experience of the data market having all previously worked together at Experian.

Joel Curry, CEO of Validis, says: “We talked to a number of venture debt providers but we chose GLIF because they offered straightforward and transparent terms which were the best fit for our business. As we continue to develop our business it is comforting to know that we are working with a patient debt provider who will work with us and support us with our growth ambition. The whole process ran very smoothly and we are grateful for the support provided.”

With four of the ‘Big 5’ high street banks and all of the ‘Big 4’ accountancy firms already signed-up, Validis is primed for a period of substantial growth which will be supported by the 12 new staff members it is set to take on, thanks to the GLIF loan.

David Booth, Senior Fund Manager at The FSE Group, which manages GLIF Debt Fund on behalf of Funding London, comments: “We were hugely impressed by the Validis management team and the considerable commercial traction they have been able to demonstrate to date. The opportunity for growth in their chosen markets remains high and we are pleased to have been able to support their growth ambition.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: "We are delighted to welcome Validis to the 'Greater London Investment Fund'. In these times of uncertainty, we are delighted Validis is providing a service beneficial to the ecosystem during these challenging times."

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.    

An AI enabled SaaS platform that empowers brands to discover authentic consumer stories, manage the digital rights to that content and to distribute the most impactful media to marketing channels and e-commerce has successfully secured a £750,000 expansion loan from the Greater London Investment Fund (GLIF).

Miappi launched their platform in 2013, in response to the founders drive to enhance content marketing for businesses. The platform uses machine learning and AI technologies to collect and curate brand owned, and user generated content from feeds including Facebook, Instagram, Twitter, YouTube and Slack. Miappi’s software helps boost the digital marketing traction of companies and their unique platform is now used by 20 Unilever brands in more than 25 countries and other major brands such as Camper, Heineken & M&S.

Andrew Foyle, CEO at Miappi, said, “Getting this backing from GLIF is not only going to support us as we look to expand and grow the business internationally from our London base but it’s also a great endorsement and validation of the progress we’ve made to date. It is bound to help us when we talk to new clients and partners as they can see we have been strongly backed to drive the business forward.”

David Booth, Senior Fund Manager at The FSE Group, commented: “We are delighted to support the growth and development of Miappi in London. We were impressed by the strength of the management team and the growing commercial traction that their platform has been able to demonstrate in 2019. We look forward to supporting their on-going development and wish them all the success for the future.”

Maggie Rodriquez-Piza, CEO at Funding London, added, “I am delighted Miappi has received investment from both our London Co-Investment Fund (LCIF) and now the GLIF. This is a testament to the excellent team and business being built at Miappi and we are delighted to support them on their international expansion journey.”

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.

A company that specialises in the supply, installation and maintenance of energy and grease management systems is the latest company to be supported by the Thames Valley Berkshire Expansion Loan Scheme. Quintex Systems provide innovative solutions designed to enable energy users to meet their environmental targets, improve profitability and add value.

Keith Stevens, Managing Director at Quintex Systems, said, “We are world leaders in smart technology for commercial kitchens, focused to drive energy and operating costs down, across hotels, restaurants, supermarkets and commercial catering operators. We also very proud to offer a UK manufactured service with everything done in house from design to installation and ongoing monitoring and maintenance. We operate from our base in Finchampstead, Berkshire and have clients across the UK, throughout Europe and the Middle East. This funding comes at an exciting time for the development of Quintex and our products, as we look to rollout our services to South East Asia, Australia and the United States.”

The £300,000 Loan will be used to fund the sales and marketing expansion of the Quintex team, with the creation of two new sales associate positions. The funding has also enabled the company to focus on their brand image – with a new website developed, that went live earlier this year.

Cheryl Weeks, Fund Manager at The FSE Group which manages the TVB Expansion Loan Scheme on behalf of Thames Valley Berkshire Local Enterprise Partnership (LEP), comments, “We are delighted to be supporting Quintex in this next phase of their expansion and development. Keith has built up a management team that is highly skilled in the retail and food industry. The company have an impressive client base of blue- chip customers, including major supermarkets and hotel and leisure operators. We are pleased to be able to provide funding support on this exciting journey and wish Quintex all the best for the future.”

TVB Expansion Loan Scheme is part of TVB Funding Escalator, an £11.3m initiative funded by Thames Valley Berkshire LEP. The escalator, which also includes a Trade Finance Loan Scheme and a Growth Equity Fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities.

A Padstow business specialising in wholesale dog care products is expanding into new markets with the support of a £32,000 loan from the Cornwall and Isles of Scilly Investment Fund as part of a £97,000 package of support.

Slickers Doghouse has developed its own range of dog wear and dog pharmacy products, including branded dog slings and blankets, plus skin and coat care treatments, hygiene drops and sprays.

The business was founded by former telecoms director Lisa Hope in 2016 who saw the market potential for a range of high quality eco-friendly and where possible organic dog care products, which are mostly British-made.

The £32,000 CIOSIF loan will support the development of more own-branded Slickers products, and wholesale and online sales through website development, the purchase of a commercial embroidery machine and attendance at major trade shows, including Discover Dogs.

A further £65,000 of loan funding is being provide by SWIG Finance to help Slickers build up stock for growing wholesale and online orders.

Lisa said: “As a relatively young business without a long trading record, we’ve found it difficult to raise finance from traditional sources. But with the support of CIOSIF and SWIG Finance we have now have the backing we need to grow our own-brand range and tap into new markets.”

The deal was led by The FSE Group, with SWIG Finance managing the process as they deliver the smaller business loans part of CIOSIF. Rachel Thomson, CIOSIF Business Manager at SWIG Finance, added: “From locally sourced high-quality treats to the latest fashionable dog wear, Slickers Doghouse has everything covered for your four-legged friend. We are delighted to be supporting Lisa and the Slickers Doghouse team and look forward to seeing how this CIOSIF loan will aid the development and growth of the business.”

Lloyd Brina, Senior Manager at the British Business Bank, said: “Young businesses like Lisa’s often struggle to raise finance from conventional sources and that’s one of the reasons why CIOSIF was set up, to help break down the barriers to accessing growth finance that small businesses face.”

LEP non-executive director John Acornley, who chairs the CIOSIF Advisory Board, said: “Slickers is tapping into a dog owner market worth £10 billion a year in the UK and Lisa has already shown how premium quality, innovative products can appeal to a wide range of owners.”

Lisa received support from Rebecca Bettin at Oxford Innovation to help develop her ideas for growth into a credible business plan with sound financial forecasts.

CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

A world-renowned brewing company who are on a mission to bring back the bear are the latest company to be supported by the Enterprise M3 Funding Escalator. Hofmeister has successfully completed their latest funding round, and raised a total of £720,000, which included £200,000 from the Enterprise M3 Growth Fund.

Hofmeister has a rich and fascinating history within the alcoholic drinks sector. Initially launched in 1976 by Courage, the Hofmeister brand was best known during the 1980s and 1990s. Its famous “follow the bear” Hofmeister adverts featuring George the Bear were the final directorial works of Orson Wells and remain much loved to this day.

The beer remained popular until lower alcohol lagers fell out of fashion in the nineties. Luckily for beer lovers, this is now changing with a surge in taste for premium lagers.  Relaunched in 2017 as a premium world lager, the new Hofmeister has been crafted to meet this growth in appetite for great quality lager. The relaunch of this historic beer is being expertly steered by two friends, Richard Longhurst and Spencer Chambers who bought the brand and have revamped the recipe for new-age beer drinkers. Now the beer is a genuine Helles lager brewed in Bavaria using the Reinheitsgebot or Purity Law, a traditional brewing method dating back to 1516. Beers brewed with this method only contain barley, hops, and mineral water.  Both men held senior positions at Beams, the UK’s leading branded alcohol gifting company. Ocado, the 5-star Connaught Hotel and the Ritz are just two of Hofmeister’s big name collaborations and more exciting partnerships are in the pipeline for the coming year.

Richard Longhurst, CEO at The Hofmeister Brewing Company, commented, "The past few years have been utterly phenomenal at Hofmeister and we are thrilled that The FSE Group has joined us on our journey. From winning contracts for in-house lager deals at prestigious venues to being the first ever lager to receive five stars at the International Wine & Spirits Competition, our relaunch has achieved so much already. With this funding round we will be opening up new facilities in Surrey and also expanding our talented team, so that the 2020’s carry on the momentum we have already built into the company.”

Avent Bezuidenhoudt, Senior Fund Manager at The FSE Group which manages the Enterprise M3 Growth Fund on behalf of the Enterprise M3 Local Enterprise Partnership, adds, "We are delighted to add Hofmeister to our investment portfolio. The company’s high level of success in such a short space of time is incredibly encouraging and can be credited to the team’s expertise and love for their product. They went to great lengths to find the right brewing partner and found the award-winning, privately-owned family business Schweiger Brewery in Bavaria to produce Hofmeister. Choosing a brewery partnership of such calibre has resulted in a fantastic high-end and critically acclaimed product. We are excited to follow the journey of Hofmeister…by following the bear!”

The Enterprise M3 Growth Fund is part of the Enterprise M3 Funding Escalator, a £10million initiative funded by Enterprise M3 Local Enterprise Partnership. The escalator, which includes an expansion loan scheme, a trade finance loan scheme and an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the EM3 area.