Fred Done’s backing another winner

BOOKMAKER Fred Done backed a winner when he invested in a former employee’s new venture – and saw his loan turn into a £25m turnover business.

Joanne Whittaker, a former IT manager for Mr Done’s company Betfred, started Fideliti five years ago.

The company, which provides childcare vouchers and works with thousands of private and public sector organisations across the country, has since more than doubled its turnover every year.

Ms Whittaker said: “Fred knew that I would do everything in my power to make it work. Fred has become my very own northern dragon and has given me a lot of encouragement and guidance. He invested and took a 25% share of Fideliti. The money gave me the financial boost I needed.”

Ms Whittaker, a 32 year old mother-of-two, decided to start the venture when she returned from maternity leave to her job at Warrington-based Betfred.

Trying to save money herself, she identified childcare vouchers – a relatively new scheme – as a means of saving on childcare costs for employees.

Fred said: “Jo has always been a very dedicated and determined employee and I was confident that she would make a success of the business. I bought into it knowing that I would see a healthy return, but also knowing that Jo would deliver an exceptional service for many thousands of parents across the country.