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Camden based Appsumer has secured funding from the Greater London Investment Fund (GLIF), to fund new business opportunities and create a dozen new jobs over the next 18 months.

Founded in 2015 by Shumel Lais and Moin Maniar, Appsumer is a SaaS analytics platform that supports developers of smartphone mobile apps to monitor their marketing spend and user acquisition success rate. Their client facing platform powered by AI captures same day marketing spend data and trends whilst delivering a decision-making tool as to where best to allocate daily marketing spend to maximise new customer downloads.

The mobile app market has grown rapidly in the last decade, and marketing spend in the sector has doubled year-on-year. As more apps are developed, marketing expenditure is the key driver to grow revenue. These developments have a greater data capture which is delivered faster to clients, along with AI decision making tools determining where marketing spend should be distributed. This reduces costs for clients and gives them an edge over the competition.

Shumel Lais, CEO and Co-Founder of Appsumer commented: “It’s great to be working alongside Marco and the GLIF team with a loan that has come at a crucial point in our journey. 2020 has delivered a step change in product offering for us with faster same day processing of data and greater client customisation, allowing us to better service our customers. This loan has put us on a strong footing for further growth as it will allow us to expand and take on major new contracts this year. Additionally, we will be able to create a dozen new jobs in London by 2022. “

Marco Cerrone, Investment Manager for The FSE Group, who manages the £55 million GLIF debt fund on behalf of Funding London, commented: “Appsumer have developed a strong product offering and have an opportunity to build a widespread customer base in a huge & fluid market. We were impressed with the management team and their commercial traction with consistent year-on-year sales growth. We are delighted to be able to provide this funding and look forward to the next stage in their journey.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: “We are excited to announce our investment into Camden-based SaaS analytics platform Appsumer.  Seven years ago, Shumel Lais and Moin Maniar capitalised on the opportunity presented by the rapid growth in the mobile app market. GLIF’s investment will support the escalation of the customer experience alongside the team’s expansion. We wish Shumel and Moin great success with their growth plans over the coming months.”

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 Worcester-based e-commerce business has secured a funding package of up to £600,000 to help build its software and expand its operations whilst creating new employment opportunities.

DAPV Ltd, trading as Boulevard Online, secured the funding from The Midlands Engine Investment Fund (MEIF), provided by The FSE Group, Debt Finance Fund.

The funding will allow Boulevard Online to develop its online software and e-commerce platform, whilst creating six new jobs. The company’s newly launched website is a hub for suppliers which are looking to grow their product sales online – enabling them to connect and partner with the e-commerce specialists. 

Dom Portman, Boulevard Online Founder, commented: “We now have customers in 85 countries worldwide, a growing team of friendly and conscientious staff and two distribution centres based in Worcester. Boulevard’s clear focus on efficient technology development has enabled us to progress from initially fulfilling orders from the largest selection of costumes and partyware in the world, to now being on course to achieve the same milestones across multiple product categories. We have embraced collaborative and positive relationships with new manufacturers, distributors and inventors and this, together with the MEIF funding package, will help us to grow further.”

Working closely with product manufacturers and distributors to grow product listings on marketplaces online, Boulevard has grown 100 per cent over the past two years and aims to become a leading marketplace seller and fulfilment company, connecting products with the end consumer on behalf of manufacturers, distributors and inventors. The business has also seen an increase in demand for its services from the UK and overseas.

Chirag Mistry, Fund Manager at The FSE Group which manages the MEIF Debt Finance Fund, adds: “We are proud to be supporting Dominic, a young, passionate entrepreneur, and top 100 recognised fastest growing tech start-up, Boulevard Online, with both its technology development and expansion plans. It is a high growth tech company pushing the boundaries to enhance the experience of the online customer journey whilst developing new technology to disrupt the market. Our support through The FSE Group and Midlands Engine Investment Fund will allow the business to continue investing in technology, people and processes as well as the creation of several jobs in the region.”

Ryan Cartwright, Senior Manager at the British Business Bank, said: “Following the investment from MEIF, Boulevard Online will be able to continue optimising its e-commerce services and unlock new growth. The MEIF is available to smaller businesses in the Midlands that are looking to secure finance for a range of reasons, including to innovate, develop products or expand.”

Gary Woodman, Chief Executive of the Worcestershire Local Enterprise Partnership, said: “I am pleased to see that Boulevard Online has been able to secure funding through MEIF to expand the business and create new employment opportunities. This will not only benefit the business but will also help the local economy to build back better from the effects of COVID. MEIF has supported numerous Worcestershire businesses and I would encourage any local businesses to contact the Worcestershire Growth Hub, Worcestershire Business Central, to find out more about how they too could benefit from this great support programme.”

The Midlands Engine Investment Fund project 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 and the European Investment Bank.

The FSE Group, MEIF Debt Finance Fund provides loans between £100,000 and £1.5million to help growing SMEs across the region.

Reading based Ybrant Partners, has secured £250,000 from the Thames Valley Berkshire Expansion Loan Scheme, to design and build IP solutions and enable the company to better service its clients.

Founded in August 2018 by Rajesh Prayaga, Jojy Joseph and Ritesh Singhvi, Ybrant Partners are an IT consulting firm who aim to deliver market leading and affordable HR & Finance solutions for mid-market and large enterprises. Ybrant delivers digital transformation programmes in these businesses and have built ACTIVA, a unique, homegrown IT solution that is specific to each industry sector, and which can be tailored and optimised to business needs.  

Ybrant works in a global marketplace with a focus on the UK and Ireland. The market is wide open with significant potential for HR technology, and recent events in 2020 have accelerated technology adoption. As a result, digital transformation is on the agenda across the industry. Ybrant’s solutions assist their clients in providing an excellent employee experience by covering notable events through the lifetime of an individual, a team and an organisation as a whole.

Rajesh Prayaga, Founder of Ybrant Partners explains: “It is great to be working alongside Rob and the TVB team with funding that has come at an extremely important time as we focus on building our presence in the UK. Thanks to this investment, we will be able to secure new clients and build new IP solutions to improve the employee experience in those client organisations. These solutions will meet a critical market demand and will allow us to move to the next stage of growth.”

Rob Hilary, Investment Manager, South East for The FSE Group, commented: “We were impressed by the management team sector experience and excellent relationships in the industry. Ybrant has a clear opportunity to build innovative solutions for its growing pipeline of customers. We are delighted to be able to offer this funding and look forward to working with the team to ensure they reach their goals for growth.”

Jacinta George, Business Environment Lead and Board Director at Thames Valley Berkshire LEP added, “Our priority is to support businesses at a time they need it. Despite the pandemic, through the Funding Escalator and Berkshire Business Growth Hub we have continued to offer local businesses free guidance and financial support where the traditional routes may not have been as easily available or accessible.”

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.

For more information about Ybrant Partners could help with HR and Finance IT transformation within your business, please visit https://www.ybrantpartners.com or email sales@ybrantpartners.com

Penryn-headquartered Inyanga Marine Projects has completed a £2m capital raise comprising a minority £0.8m equity investment backed by the Cornwall and Isles of Scilly Investment Fund (CIOSIF) and £1.25m debt facilities.

The equity investment round was led by The FSE Group (the appointed fund manager of CIOSIF) with investors including CIOSIF, French company SerEnMar’s Ship As A Service® (SAAS) and private investors.  Debt facilities are being provided by Cyan Finance and Lombard.

Formed in 2017 by Richard Parkinson, Inyanga Marine Projects provides expert operations services and engineering design within the offshore renewable energy sector (including tidal, offshore wind, wave and solar).

The sector is thriving as part of global moves towards a net zero carbon economy with Cornwall and the UK particularly active. Climate Change and creating a greener future is at the top of the agenda for this week’s G7 summit in Cornwall.

The investment is being used to fund the expansion of the business, including the purchase of DP2 Multi-Purpose Vessel, Inyanga Entsha, that will be based out of Falmouth.  Inyanga has a growing team of 15 professionals and is involved in some of the most ambitious offshore green energy projects including St Brieuc Offshore Windfarm, Minesto’s Holyhead & Faroe Islands installations and Sabella D10 tidal energy project.

Hervé Allaire of SAAS will be joining Inyanga’s company board as the two businesses embark on a closer partnership leveraging their complementary offerings. Martin Macey led the investment on behalf of FSE and will be joining Inyanga as Board Observer.

Richard Parkinson, CEO at Inyanga commented: “Martin and the team at FSE went above and beyond to help us plan and structure the capital raise.  Their commitment was evident throughout and we are delighted with the outcome.”

Martin Macey, Investment Manager at FSE Group commented “It is a privilege to work with Richard and the team at Inyanga which comprises some of the world experts in offshore renewables.  We look forward to helping scale this innovative business in such an important sector.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

Ken Cooper, Managing Director at the British Business Bank, said: “Through the British Business Bank’s regional funds we are actively supporting businesses that are contributing to the UK’s low-carbon agenda. Inyanga Marine is a great example of that and we are delighted the fund has supported this deal.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “Inyanga is part of a globally renowned offshore renewable energy supply chain in Cornwall. The region is on the cusp of significant developments in the floating offshore wind industry in the Celtic Sea, so this deal is very timely.”

Advisers on the transaction were: Field Seymour Parkes (FSE legals), Murrell Associates (Inyanga legals), Lang Bennetts (Inyanga tax) and Mylor Ventures (Inyanga corporate finance).

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.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2

Warwickshire based manufacturer of energy storage solutions, Off Grid Energy, has secured a £1.25m investment to scale-up its operations, further developing its product offering whilst creating new jobs in the area.

Off Grid Energy secured the finance from The Midlands Engine Investment Fund (MEIF), provided by The FSE Group, Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).

The funding has enabled Off Grid Energy, to relocate to their brand-new state of the art 30,000sq ft premises, which features 150Kw Solar PV and is based in Stepnell Park, Rugby.  The resources support a step-change in the business to become a full production operation that will create 30 new skilled positions within the business whilst launching new products that will be supported by an extensive PR and marketing campaign.  The business will further establish its presence overseas with these new products.

Off Grid is a respected and trusted voice on energy efficiency and clean energy solutions, who continues to work towards a smart, decarbonised, decentralised energy system.

Janene Dooler, Joint Managing Director of Off Grid Energy, commented: “Our recent exciting relocation means that now all our energy needs are met by renewable sources and combined with having a private network on the estate, gives us the ability to develop our technology to the max. Since 2011, we have pioneered and become experts in providing smart, efficient power solutions which save money and significantly reduce carbon footprint in the temporary power sector. Our technology saves costs and has huge sustainability impact displacing the use of diesel generators reducing carbon emissions and tackling air quality issues. In emerging sectors, such as energy storage and EV charging, for those struggling with grid power, or where there is no grid available, we work with you to find the most cost-effective solution, with the least environmental impact, delivered in the shortest possible time. Our focus is to offer zero or net carbon neutral energy solutions. The funding received from MEIF via Chirag at The FSE Group, will enable us to grow and expand as a business, enabling high quality job creation to permit us to develop our products to enable us to achieve this goal.”

Chirag Mistry, Investment Manager, at The FSE Group, which manages the MEIF Debt Finance Fund adds: “I am delighted to be supporting Off Grid Energy through The FSE Group & The Midlands Engine Investment Fund. Off Grid Energy is an exciting organisation supporting the transition to low emissions and is a leader in this specialist sector. They are an experienced team making a real difference with their products and applications, serving a wide range of sectors across the UK. Off Grid Energy offers a glimpse of what the future will look like and how we can embrace technology to improve the environment now, not in 2030. The funding will enable Off Grid to retain, grow and develop its workforce boosting the local economy.”

Grant Peggie, Director, at the British Business Bank also added: “The MEIF is committed to supporting businesses that are contributing to the UK’s low-carbon agenda, alongside meeting wider key fund objectives. This latest investment highlights the strength of the Midlands in developing clean technology solutions and we will continue to help green and sustainable businesses grow and create new skilled jobs in the Midlands.”

Sean Farnell, board director at the Coventry and Warwickshire Local Enterprise Partnership, said: “An important focus of the CWLEP’s Strategic Reset Framework is innovation and green technology and Off Grid Technology is a perfect example of this.”

The Midlands Engine Investment Fund project 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 and the European Investment Bank.