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Back to Northern Powerhouse Investment Fund News – Issue 5

Deal In Focus – Creation 360

Product design agency Creation 360 plans to develop a new mobile solution for the hospitality and leisure industry after receiving £250,000 from NPIF – Maven Equity Finance, part of the Northern Powerhouse investment Fund,  managed by Maven Capital Partners.

Founded in 2014 by Kevin Coleman, the Manchester-based firm develops, designs and delivers bespoke promotional merchandise and display solutions for Fast-Moving Consumer Goods (FMCG) brands such as Coca Cola, Hilton Hotels and Vimto.

The funding from NPIF – Maven Equity Finance was part of a larger funding round totalling £750,000. The company will use the funding to expand operational capacity through the development of AuditCloud, its digital platform solution for the hospitality and leisure industry. The mobile solution records, consolidates, analyses and reports multiple customer-related data streams in real time, with the beta product being used nationally by both Hilton Hotels and Bourne Leisure. In addition to this, the funding will also fuel a recruitment drive, creating 11 jobs in the Greater Manchester area as the demand for products grows.

Creation 360 will enter a three-year Knowledge Transfer Partnership (KTP) agreement with Manchester University to further develop the next generation AuditCloud platform that will analyse all social media feeds and report on negative comments. The investment from NPIF will be used to launch AuditCloud and help grow the product’s reach using the KTP.

Jim Darlington, Investment Manager at NPIF – Maven Equity Finance, said: “We are delighted to support Creation as it seeks to expand its presence with its new and innovative AuditCloud product. Kevin and the team have exciting plans to grow the business and we are optimistic about the interest AuditCloud will generate in the marketplace.

“We are looking forward to working alongside Kevin, an ambitious entrepreneur backed by a dedicated management team, who are more than capable of capitalising on the opportunity and driving the business forward.”

Sue Barnard at the British Business Bank said: “The Northern Powerhouse Investment Fund can provide much needed stimulus to businesses in the North, with the investment in Creation 360 being a prime example of this. Through this new line of funding, the company is now able to bolster its headcount and develop its products further. We are very much looking forward to seeing how the business progresses following this investment”.

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.

Maven Capital Partners UK LLP is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 495929

Editors Notes