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Representatives from Sheffield based Tribosonics and NPIF - Mercia Equity Finance

NPIF has seen its busiest quarter to date in recent months, with our fund managers working hard to provide vital funding to businesses across the North.

Here are some of our recent investments.

Tribosonics

Representatives from Sheffield based Tribosonics and NPIF - Mercia Equity Finance

Tribosonics, a Sheffield company whose smart sensing technology helps businesses to reduce costs, has raised £1.1m from NPIF – Mercia Equity Finance. The funds will allow the business to grow its team from 23 to 33 over the next 12 months, as well as invest further in its product development.

Troy Foods

David Wright & James Kempley from Troy Foods

Supported by a £500,000 investment from NPIF – Mercia Debt Finance, leading vegetable, salad and mayonnaise producer Troy Foods has been able to expand, with funds supporting completion of a fourth site in Wakefield, Yorkshire. The new, fully operational facility is expected to create more than 20 new jobs.

Ginger

Representatives from Ginger and FW Capital

E-Scooter firm Ginger secured a £500,000 investment from NPIF – FW Capital Debt Finance, following launch of its first e-scooter rent trials in July. This investment will lead to the creation of 12 new jobs, safeguarding of a further 10, and the opening of a new base for the business in Hartlepool.

Membr

Jack Malin, CEO at Membr

NPIF – Maven Equity Finance provided Manchester-based fitness management software platform Membr with a significant investment. This funding is set to fuel the next stage of the business’ global expansion, as it looks to expand its use internationally.

Stable’s Pies

Stables Pies

Barrow-based pie production company Stable’s Pies received a £70,000 CBILS loan from NPIF – BFS & MSIF Microfinance, delivered by GC Business Finance & MSIF. Thanks to this investment, the jobs of all six staff members that have been working throughout the pandemic have been secured.

Virtuoso Legal

Elizabeth Ward, Founder and Principal of Virtuoso Legal

Following a £40,000 CBILS backed investment from NPIF – BEF & FFE Microfinance, Leeds-based intellectual property solicitor practice has seen an upturn in instructions. The organisation used the loan to boost online visibility and create new marketing content and ideas for marketing.

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.

Editors Notes

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Microfinance

£25k – £100k

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Debt Finance

£100k – £750k

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Equity Finance

£50k – £2m

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