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5th June 2023

NPIF – Maven Equity Finance leads six-figure investment in AperiData


Northern Powerhouse Investment FundNPIF - Maven Equity FinanceGreat Manchester LEP

NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund, has led a six-figure investment in AperiData Limited.

The transaction will enable the business to embark on a programme of growth, expand its portfolio of customers, enter new markets and create up to 10 new jobs in the region.

There are over 20 million people in the UK who are financially underserved and struggle to get mainstream finance products due to lack of credit history or incompatible lifestyles. Among those most affected are 800,000 recent migrants and 900,000 young professionals without UK credit histories, as well as 1.5 million gig workers, 2 million retirees and approximately 800,000 returning expats. Additionally, the UK is seeing unprecedented numbers of consumers experiencing some form of financial vulnerability due to macroeconomic challenges.

The AperiData open banking based credit reference agency uses customer bank account data to provide insights, scores and tools that allow its clients to reach those previously underserved segments. Its platform can be integrated quickly to client demands and the software licence can be provided to clients under its own FCA permissions.

Led by a strong management team, with decades of global experience in the world of financial services, credit risk and data analytics, provides AperiData with an in-depth understanding of client needs, as well as an unparalleled insight into the best services that can be derived from the open banking initiative.

James Caplan, Investment Manager at Maven, said: “What initially attracted us to the business was the team’s experience working in credit risk and financial services. Stephen and Andrew are highly skilled and knowledgeable having previously founded and grown a successful consultancy business prior to starting AperiData. The platform is well developed and is currently being integrated into clients’ systems and we look forward to supporting the business as they expand their customer base and look to enter new markets.”

Stephen Ashworth, CEO of AperiData, said: “We are delighted to announce this additional funding and to be partnering with a highly experienced investment firm as we embark on our next chapter of growth.  With Maven’s support, we look forward to the collaboration opportunities as we continue our mission to revolutionise credit scoring and fairer access to financial services for all”.

Keira Shepperson at British Business Bank, said: “At its heart, the Northern Powerhouse Investment Fund strives to help small businesses gain access to finance where they would have normally struggled. Now, this latest investment helps AperiData do the same for everyday people, helping them unlock access to financial products they may have previously been prevented from attaining. Stephen and his team are good examples of Northern entrepreneurs finding creative ways to disrupt traditional and well-established industries.”

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.

Editors Notes


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