The Northern Powerhouse Investment Fund has continued to support a diverse range of businesses this year, completing equity, debt, and microfinance investments across the region.
From securing funding for a new pub, to intelligent automation solutions, NPIF is empowering entrepreneurs and small business owners to propel their companies to the next stage of growth.
Have a read of our latest deals to learn more about how the funding is being utilised.
A Manchester-based bars and brunch owner has opened its doors to a new pub, The Wayfarer, after receiving a £250,000 funding boost from NPIF – FW Capital Debt Finance. The loan support was used to help create Urban Village Bars’ latest offering to Manchester’s food and drink scene in the heart of the Northern Quarter. The investment is also expected to create new jobs, boost stock purchases and marketing materials, as well as boosting the ever-growing local economy around the Northern Quarter and Ancoats area.
Hull-based Bimsense has raised a further £750,000 from NPIF – Mercia Equity Finance. The prop-tech business helps high-rise buildings meet the new safety rules under the Building Safety Act introduced last year. In 2020, it launched Operance, its own operations and maintenance software with the help of NPIFThis latest funding will enable the company to add new features to Operance, expanding its presence in an industry that is ripe for change.
Floks, a luxury sustainable bedding brand, has raised £100,000 from NPIF – Mercia Debt Finance. With all its materials sourced locally in the UK, the York-based company now finds its products on the shelves of John Lewis. The funding will enable the business to step up to the next level by boosting its marketing campaign and developing new products to expand the range. The investment hopes to establish the brand as a future market leader in premium British wool bedding.
A provider of intelligent automation solutions in the travel sector has secured a £500,000 investment from NPIF – Maven Equity Finance. With successful ventures in telecommunications, recruitment, and HR, Traverse aims to diversify even further. The funding will be used to drive the wider adoption of its Cognitive Flow product more quickly and also to innovate new AI-driven components enabling expansion into additional markets.
Stratton Tea, an ethical beverage and spice distributor, has significantly boosted its operations with the help of a £100,000 NPIF – River Capital & GC Microfinance investment. Founded by Razi Khan, Stratton Tea sources, blends, and distributes teas and spices from around the world. It also partners with organisations like UNICEF, to promote ethically responsible practices that drive growth. The funds have also bolstered equipment purchases and created pivotal job roles, paving the way for an exciting expansion phase.
A Leeds-based solar energy firm boosted its stock and team following a £50,000 loan from Business Enterprise Fund (BEF) and NPIF – BEF & FFE Microfinance. Specialising in design, supply, and installation of renewable energy solutions, the NPIF investment fuelled working capital and staff growth. The investment aligns with rising consumer interest in sustainability, helping the company adapt to industry changes towards a more sustainable future.
The Northern Powerhouse 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.
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Suiso - a Rotherham company developing an innovative hydrogen generator that could boost uptake of green energy - has ra...
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