NW Fund provides cash for Dash

A SOFTWARE business has received a funding boost to develop a cashless payment platform.

Liverpool-based Adaptis Solutions has received an undisclosed investment from the North West Fund for Digital & Creative, managed by AXM Venture Capital .

Adaptis Solutions’ product, Dash, allows cashless parking, passenger transport and taxi payment systems, as well as online virtual permits and licensing.

The company works with a number of local authorities on its metered street parking operations and also some major parking management and transportation companies.

The investment will support Adaptis to grow its technical resources, further develop its payment platform and to its marketing and sales team.

Adaptis was founded in 2005 by chief executive Manni Marway. It has as office in Silkhouse Court in Liverpool city centre and is currently recruiting.

Mr Marway said: “We are extremely excited about the investment by AXM, who bring strong tactical and strategic experience to the business and really understand the space in which we operate. This expertise will help us to accelerate our Dash platform to the next level of business growth.”

David Smith, fund manager of The North West Fund for Digital & Creative, added: “Adaptis is a great example of a bright, experienced founder team which has grown a profitable business, so far using only their own capital, and which the Fund can help accelerate in a high-growth market.

“We were particularly pleased that the company chose the North West as the location for its first permanent offices.”