IT specialist on expansion trail after funding boost
Manchester-based one-stop IT services and solutions company, Wenso, has received £500,000 from NPIF-FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund.
The funding will support the company’s next growth phase by significantly increasing its team – already 60-strong – in turn servicing its extremely strong sales pipeline.
Wenso has a global presence across multiple continents including Europe, North America, Australia and Asia, including the Middle East.
The management team at Wenso comes from a strong technology background bringing with them enormous experience in a wide-range of technology and business skills.
Clients include Newell Brands, Safariland, TDA Capital, Institute of Banking Studies, and The Seimon. The company has strong partnerships with Microsoft, Oracle, SAP and Salesforce.
Michael Berger, corporate finance manager at Hallidays, who supported Wenso throughout the process, said: “Wenso develop strong partnerships with their clients and are utilising the funds raised to continue to propel their business forward into new territories.
“This was the second round of growth funding we have advised on for the business and it was a pleasure to support the Wenso team securing this, enabling them to continue investing in their highly skilled team and service the ever-growing client base.”
Mushtaq Mohammed, founder and managing director of Wenso, said: “This funding enables the Wenso team to further study, understand and analyse our clients’ complex businesses.
“We then deploy next generation solutions and continuous improvement of process frameworks which improves efficiency and, therefore, contributes to business growth.”
Andy Traynor, senior investment executive at FW Capital led on the deal, and said: “Wenso have an extraordinary team of people who are highly skilled and passionate about delivering an excellent experience for their customers.
“They have a strong track record across the whole of the IT sector and are well positioned to take forward a number of excellent opportunities. We are happy to support the company in this next phase of their growth plans.”
Sue Barnard, senior manager at British Business Bank said: “We are pleased to be able to support Wenso in achieving its goal of further global expansion right from its base here in Manchester.
“We look forward to watching this international IT company grow its revenue and sales by boosting its team numbers and reach through this NPIF 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.
Advisors/representatives included: Mike Berger (corporate finance manager, Hallidays, More Than Just Accountants), Andy Traynor (senior investment executive, FW Capital), Gavin Cowling (formerly senior investment executive, FW Capital and now director at Accelerator Consultants).
