NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund invested in Volution Fit, which provides cloud-based software for the fitness and wellness industry. The funding will allow the business to invest in product development to grow its customer base and embark on a recruitment drive, creating up to 17 new jobs in Manchester.
Volution Fit has developed a software platform and app to support multi-site fitness clubs within the health and fitness industry. The platform provides unique, tailored software solutions to connect members, trainers and management. Functionality includes class and trainer mobile bookings, member engagement and retention data, and business intelligence. Volution drives fitness clubs’ efficiency by connecting and harnessing the data stored across different software platforms and sites into real-time insightful management reporting. The business already supports an impressive client list of fitness brands including well-known health brands, Fitness World and Anytime Fitness.
With more than four million wellness businesses operating worldwide, Volution is well positioned to benefit from the rapidly emerging need for software solutions designed to optimise the growing number of health and wellness brands.
Adam Norton, Founder and CEO, has over 15 years experience in building successful direct sales businesses. Adam recognised a gap in the market when found it difficult to source the best possible trainer to help him with rehab after an extended hospital stay. Adam is supported by Mark MacLeod, Head of Innovation & Product Development, who has over 15 years’ experience in international sales & client management, digital design, concept development and marketing.
Gavin Bell, Investment Manager at Maven, said: “We’re delighted to support Volution Fit, it’s an exciting local software business already boasting an impressive international client list. The business is operating in a growing segment of the SaaS market and we look forward to working with Adam and his team as they embark on a programme of further growth.”
Adam Norton, Founder and CEO of Volution Fit said: “We’re delighted to be working with Maven to continue to grow our local and international footprint. With the experience Maven offer in facilitating high growth we are able to deliver a bunch of new jobs into the North West and provide tremendous growth internationally.
Sue Barnard, Senior Manager of the British Business Bank, said: “We are pleased that NPIF has continued to support high-growth businesses in the North, providing vital funding to enable job creation and expansion into new markets. 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