‘Exciting times ahead’ as Nottingham IT specialist bags MEIF funding
A Nottingham-based provider of IT and software solutions to the retail and hospitality industries is predicting “very exciting times ahead” after securing funding from MEIF Maven Debt Finance.
Retail Assist – which counts big name brands such as Pizza Hut, Morrisons, Ted Baker, Vue Cinemas and Harvey Nichols amongst its clients – says it will use the funding to “maximise opportunities to grow the business”, expand its client base and “capitalise on additional opportunities” with existing partners.
The Friar Lane-headquartered firm intends to invest in new services and technologies following the funding injection.
The value of the package has not been disclosed.
Kevin Greathead, managing director at Retail Assist, said: “As a retail and hospitality specialist, Retail Assist has been providing IT managed support services to the retail and hospitality community for over 23 years, now supporting almost 40 established retailers and brands.
“Our objective is to deliver services through an experienced, UK-based team who are passionate about shifting the dial on user experience. Our relationship with Maven will allow us to invest further to maximise opportunities to grow the business, introduce new technology solutions and reach new customers and markets. We see very exciting times ahead.”
Richard Brighty, investment manager for Maven, said: “Retail Assist presents a fantastic growth opportunity. An innovative suite of software solutions combined with a large UK team providing development and support IT services, the business is well positioned to benefit from the upturn in the retail industry following a challenging period during Covid-19. Maven’s investment follows on from additional investment from the Foresight Nottingham Fund, which initially supported the company in 2017.”
Will Morlidge, chief executive at the D2N2 Local Enterprise Partnership, added: “I’m delighted that Retail Assist is being supported by MEIF. We know that growing the digital capability of all sectors of the economy is vital to promote sustainable economic growth, and the retail sector is no different. We’re investing heavily in digital skills precisely so our area can provide the talent that ambitious businesses such as Retail Assist will need to keep on growing.”