North West Fund backs finance website
A COMPANY which acts like a comparison site for business finance is moving from London to the region after securing an equity investment from the North West Fund.
Funding Options, which also helps companies with funding applications, already has links to the North West through Ric Traynor, chairman of Manchester accountancy firm Begbies Traynor, who holds 17% of the shares.
He has put more money in as part of a syndicate led by the North West Fund for Digital & Creative and also including Alan Morgan, co-founder of MMC Ventures.
Funding Options, founded by Conrad Ford, will use the money to build a commercial sales team and increase the number of technical staff.
Mr Ford said: “Funding Options is focused on getting the right finance to the UK SMEs, something that the last few years has shown is vital to the UK’s economic future. The North West is recognised throughout the UK as a centre of excellence in business finance, so we’re very excited to be supporting the next phase of our rapid growth from such a deep pool of talent.”
David Smith, investment director at AXM Venture Capital which manages the digital and creative fund, said: “We are delighted to be able to support such a high calibre management team with its expansion plans in the North West – it is a testimony to the region’s commercial and technical strengths.”
The North West Fund is backed by the European Union.
