The first quarter of 2022 demonstrates a strong start for NPIF as investment continues to bolster economic growth across the North’s business community. NPIF will continue to help small business across the North access finance and accelerate their growth trajectories.
Over the last quarter, NPIF investment has helped businesses scale-up their platforms, launch new products and services and increase staff headcount – here are just some of our recent deals.
Here are some of our recent investments.
Cheshire-based eco-ethical baby care brand Pura has secured a £4.25 million funding round led by Maven Capital Partners, split evenly across NPIF – Maven Equity Finance , Maven VCTs, and Maven Investor Partners. Pura’s plant-based wipes are 100% plastic free, 100% biodegradable and 100% compostable and are accredited by both the British Skin Foundation and Allergy UK. Pura will use the funding to increase B2B sales targeting the supermarket sector, including
the US and increase investment into marketing to help drive its growth.
Historic bus operator Hulleys of Baslow received a £100,000 loan from NPIF – Mercia Debt Finance to protect its vital service for Peak District residents. The bus service played a crucial role during the pandemic, enabling school children and key workers to have continued access to public transport. The funding will go towards preparing for the Spring/Summer season when passenger numbers are anticipated to increase.
Middlesbrough-based vinyl pressing business Press on Vinyl received a £350,000 investment from NPIF – FW Capital Debt Finance. The business opened a new state of the art pressing plant at Tees-Advance Manufacturing Park in June 2021 and now with the help of the NPIF investment aim to press as many as 50,000 records per month, focused on independent artists and labels, small-run releases, and local musicians. The funding will be used to support working capital requirements though the start-up phase of the business and create as many as 46 new jobs.
Ripon-based Digital Converters, which helps customers reconnect with their old footage, has secured a £250,000 investment from NPIF – Mercia Debt Finance, which will enable them to continue their rapid growth and also launch a new cloud-based platform. The company is seeking to double its team in the next five years and expand into Europe, ultimately becoming a worldwide service.
Liverpool-based nutritional snack company Nutry Nuts has received a £70,000 loan from NPIF – BFS & MSIF Microfinance. Nutry Nuts have taken the traditional peanut butter cup and created a nutritious, protein-rich snack that tastes great and is low in sugar content. The funding which was supported by the governments Recovery Loan Scheme (RLS) will be used to enable the business to meet increased demand for existing products and support the marketing and
promotion of two new flavours, dark chocolate, and white chocolate.
Little Journey, a Leeds-based app developed to reduce anxiety in children undergoing surgery has raised £1.5m from NPIF – Mercia Equity Finance. The app enables patients to take virtual tours of the hospital, with interactive animations explaining what will happen at each stage of their hospital journey and has been shown to reduce anxiety by 30% in high-risk patients. The funding will help the business expand its team with the creation of 12 jobs, further develop its technology and drive uptake in the UK and overseas.
Grimsby-based manufacturing company Smartflow Couplings secured a loan from alternative lending provider Finance for Enterprise and NPIF – BEF & FFE Microfinance. Smartflow Couplings specialises in manufacturing innovative hose couplings which are used to improve both safety and efficiency whilst transporting hazardous liquids. As a direct result of the financial support, the company is aiming to treble its workforce, as well as target an eight-fold increase in turnover within the next two years.
Darlington-based software company Florisoft, trading as Strelitzia Software Limited, secured a £175,000 investment from NPIF – FW Capital Debt Finance. Servicing both UK and international clients, the software manages the running of floristry businesses through technology. The investment will provide funding needed to further develop the software system and allow Strelitzia to expand and develop their routes to market. The investment has safeguarded seven jobs and will create a further eight.
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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