Tactus dials up £300k funding support
Greater Manchester Loan Fund has invested more than £330,000 in Tactus Group to support product expansion and the creation of up to 25 new jobs.
Since launch the GMLF has supported upwards of 25 businesses to help them fulfil their growth aspirations.
Tactus started as a brand developer and wholesaler for premium quality mobile phone and tablet accessories.
The funding will enable Tactus to acquire a new lease for a site in Salford, Greater Manchester to expand its product range and further penetrate the hi-tech consumer electronics sector.
he acquisition of the Salford site lease will create around 10 new roles immediately with the potential for an additional 10-15 jobs over the next three years.
Founded in 2012, by chief executive Scott Brenchley, who has more thN 20 years’ experience in the IT sales market place, Tactus has historically supplied products such as mobile phone and tablet accessories, including phone cases and headphones through a wholesale supply service to major retailers such as Amazon, John Lewis, Selfridges, Argos and QVC.
More recently the company has expanded its range to encompass increasingly sophisticated and tech-driven products.
Launched in August 2013 by the Greater Manchester Combined Authority (GMCA) and managed by Maven Capital Partners, the GMLF was established to provide flexible finance solutions to businesses throughout the region to support their growth while safeguarding and creating jobs.
Since its launch the GMLF has supported more than 25 businesses like Tactus to help them fulfil their growth aspirations. The fund continues to offer SMEs across the Greater Manchester region flexible finance packages of between £100,000 up to £750,000.
Alex Rothwell, investment manager at Maven, said: “Tactus is a hugely exciting business positioned at the very cutting edge of consumer technology. Through the GMLF loan, which will support the opening of the new warehouse, we are delighted to be supporting Tactus’ growth and the creation of new jobs in the Greater Manchester area.”
Scott Brenchley, CEO at Tactus Group, said: “Working with Alex and the team has been a great experience and the board at Tactus are extremely excited to welcome Maven as a new partner. This injection of funds puts Tactus in a much stronger position to execute our opportunities and growth plans.”