Key Forensic Services discovers a £1m funding stream

COVENTRY-based Key Forensic Services Limited has secured £1m funding from Finance Birmingham’s £56m Mezzanine Fund.

The firm provides a comprehensive range of forensic services to the UK criminal justice system and law enforcement agencies.

Blue Sky Corporate Finance assisted KFS with sourcing and securing the funding through Finance Birmingham. The money will be used to help fund the final development and launch costs of its RapidHIT device.

A rapid DNA profiling service will be initiated from KFS laboratories during July and sales of the equipment have already started, providing opportunities for further job creation.

Brian Thomas, financial director at KFS, said: “Our staff have extensive experience operating as forensic practitioners/expert witnesses and are regarded as leaders in their chosen fields.

“The funding we received through Finance Birmingham’s Mezzanine Fund will enable us to continue with our ambitious growth plans and to invest in people.

 “With the employment of additional highly experienced staff we will continue to deliver the high service levels our clients are accustomed to.”

Tony Seaton, associate director at Blue Sky Corporate Finance added: “Through our close working relationship with Finance Birmingham we were able to secure the funding KFS required.

“Providing SMEs with access to funding of this type is vital to the growth of the local economy and we are delighted to have been able to have helped KFS with their future ambitions to grow the business and employ more staff.”

Graham Mold, investment director at Finance Birmingham, said: “Access to funding remains a key issue for growing businesses.

“Without the finance and support of organisations like Finance Birmingham, many cannot take their companies to the next level and realise benefits for the wider economy, including the creation of much needed new jobs.

“Our Mezzanine Fund has helped support more than 11 business since its launch last year and we welcome applications from more companies with growth potential.”

Finance Birmingham’s £56m Mezzanine Fund, supported by the Government’s Regional Growth Fund, is the largest individual growth capital fund for SMEs in the West Midlands. 

Businesses can apply for loans of between £250k and £2m to fund development and growth plans.