Digital marketing platform secures six-figure funding to fuel growth plans
A Leicestershire digital marketing platform that helps small businesses with little to no SEO knowledge has secured a £250,000 intellectual property-backed loan from Natwest to fuel its growth plans.
Hike SEO has gained over 10,000 users since its launch in 2017 and with this funding, it plans to introduce new AI-powered features over the next year., to help small business owners take charge of their SEO and boost their online visibility.
The Lutterworth firm is also set to expand its team by 30%
NatWest launched IP-backed lending for high-growth businesses at the start of 2024, allowing companies rich in intellectual property but lacking tangible assets to secure funding to accelerate their growth.
The High Growth loan process utilises valuations from an online IP identification and valuation platform developed by IP experts at Inngot to assess relevant assets that NatWest can accept as loan security.
Andrew Allen, Hike SEO’s chief executive, said: “We’re thrilled that Hike has secured an IP-backed loan from NatWest, which is a huge vote of confidence in the value of the software we have built. This funding will support the development of new AI-driven functionality, providing a simpler and better experience for small businesses handling their own SEO. Importantly, this loan allows us to achieve this growth without further diluting equity for existing shareholders. The support of NatWest and our relationship manager Chris has been fantastic throughout the process.”
Neil Bellamy, head of technology, media and telecoms at NatWest, said: “Hike is exactly the sort of high growth, disruptive company that NatWest’s IP-backed loan is intended to benefit. Like so many of today’s growth companies, Hike needed help validating and unlocking the value locked up in its intellectual property and other intangibles. This solution is genuinely for the mass market, making lending affordable for fast growing, IP rich businesses to borrow as little as £250,000. Together with our partners Inngot, we’re disrupting the lending market for SMEs in the same way that Hike is disrupting SEO.”
