Region:Yorkshire and Humber
Programme:Northern Powerhouse Investment Fund
A Humber business which has developed an online lead generation system to help SMEs access new business opportunities secured a £250,000 investment from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.
LiveLead lists tenders of all types from over 500 different portals as well as details of planning applications from almost every local authority in the UK, which alert firms to developments in the pipeline. It is already being used by clients ranging from construction, electrical and other contractors to web developers and marketing firms.
The platform – which was originally known as The Marketplace – was founded in 2016 by Jason Kay and Gareth Alexander, who both have a background in sales and supply chain management. The deal, which is NPIF’s first equity investment on the south bank of the Humber, will allow the team to further develop the platform, create five new jobs and market its services nationally.
Jason Kay, the company’s CEO, said: “We help organisations of all sizes, from sole traders to busineses with multi-million turnover to identify genuine live opportunities, rather than those which have already been awarded to other parties. The funding will allow us to scale up the business and expand our support team which is key to our customer-led approach.”
Simon Crabtree, Investment Manager with Mercia, added: “Jason and Gareth have a background in tenders and lead generation and have already shown that their system can successfully generate new business for clients. This funding will allow them to take on additional staff and take the business to the next level.”
Phil Glover, Business Development Manager at the Humber LEP said: “We are delighted to see another Humber business benefit from the Northern Powerhouse Investment Fund. This business will not only create additional local employment but will also help many other companies across the region access supply chain growth opportunities”
Mark Wilcockson at British Business Bank, said: “NPIF continues to provide vital funding to Humber busineses. We are pleased to continue this support, and are proud to work in partnership with Mercia and our other appointed fund managers to make a real impact on business communities, creating jobs and strengthening regional economies to unlock the North’s potential.”
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.
Enterprise Ventures Limited is authorised and regulated by the Financial Conduct Authority (FRN: 183363). EV Business Loans Limited is authorised and regulated by the Financial Conduct Authority (FRN: 443560).
If you would like to meet with one of NPIF's appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area