NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund invested £500,000 in Fissara Limited (“fissara”), a designer, developer and provider of operational management software (“OMS”) for the SME and mid-sized corporate market.
The funding will allow the business to invest in product development and expand its team, creating 10 new jobs in the Manchester.
fissara is a specialist in mobile workforce software for the waste, transport, property maintenance and engineering sectors. The software helps organisations like O2, Motorola, Clarke Telecom, OM-3 and Peel Land and Property Ltd manage their mobile resources more effectively. fissara’s easy-to-use digital dashboard reduces admin time, simplifies planning and provides users with a range of tools to be more efficient, cut costs and reduce their carbon footprint.
The enterprise software market is the fastest growing segment in the IT industry and has experienced high levels of growth in recent years, with market revenues more than doubling in the decade between 2009 and 2019.
Backed by a highly experienced management team, Jon Holttum, CEO, is an experienced telecoms and technology architect with a history of senior roles within HP, John Lewis, Siemens and a number of other global technology companies.
David Wybourne, CCO, who has invested an additional £90k to support fissara’s plans for growth, is an experienced business development professional building fast-growing businesses in the technology and construction sectors. Supported by Chairman, David Harding, who is the former CEO of William Hill with a highly successful executive career spanning various sectors, including automotive, telecommunications and financial services.
Alex Rothwell, Investment Manager at Maven, said: “We’re delighted to support Fissara as they embark on a programme of growth, the company’s innovative software is already delivering a required service to a range of impressive clients. David, Jon and the team are highly experienced and dedicated and we look forward to working with them as they execute their expansion plans.”
Jon Holttum, Founder and CEO, of Fissara, said: “We’re thrilled to be part of the government’s vision to create a flourishing Northern Powerhouse. fissara has an exciting roadmap of cloud product development plans that will be available to existing and new customers, including two new innovative solutions for the waste and waste haulage sectors. 2020 is already shaping up to be a very exciting year for us!.”
Sue Barnard from British Business Bank, said: “We are pleased that NPIF has continued to support high-growth businesses such as Fissara, providing vital funding to help create new jobs in Manchester. This investment demonstrates how this funding can make a real and measurable difference to businesses across the Northern Powerhouse region, which helps create a more prosperous regional economy.”.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Maven Capital Partners UK LLP is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 495929