Digital agency gets £350K facility from bank
AN award-winning digital agency on the Wirral has secured a £350,000 working capital facility with Barclays to support the continued and rapid growth of the business.
The Webtise Group is a marketing and development agency for online retailers offering services including website design and implementation, SEO and content management, paid digital, affiliates, app development (through a subsidiary called Apposing acquired last year) and app marketing.
Founded six years ago, the business has grown quickly now employing 67 people in four offices across the UK (Liverpool, London, Manchester and the Wirral) and with new working capital facilities in place from Barclays this growth is set to continue.
Webtise chief executive Justin Young said: “Our philosophy of innovative thinking applies to all areas of our business, including the way in which we finance the company.
“Webtise has grown significantly over the last few years and from this we have developed a strong relationship with Barclays as we need a banking partner for the long-term, supportive of our Company aims and ambitions.
“The team at Barclays shares our enthusiasm, understands our business and is keen to support our future growth plans as we expand.”
The new facility was arranged by the North West corporate banking team at Barclays led by Dave Parr, relationship director.
He said: “Webtise is a fascinating company to work with and I have thoroughly enjoyed building a strong partnership with the management team over the last few years. The energy and passion of all the staff has enabled them to achieve phenomenal growth in a short space of time, without the need for equity funding.
“This is a well-run, growing North West business and is now ideally positioned to continue on its growth track over the coming years. The close relationship helps us to understand the key drivers for the business which, in turn, has enabled us to deliver a funding solution that fully satisfies Webtise’s ongoing requirements.”
