With the backing of an equity investment package of £500,000 from the Development Bank of Wales and a further £600,000 from private investors, OpenGenius has its sights on global expansion and stock market flotation.

Cardiff-based OpenGenius, which develops high-tech software for innovators and creative teams, has enjoyed increasing momentum over the past few years.

Task management app, DropTask, has attracted a worldwide customer base, with teams and individuals at Harvard University, Nike, Ralph Lauren, Coca-Cola and McDonald's, among others, all joining its client list. Whilst iMindMap is an all-in-one Mind Mapping and visual thinking tool – the software is used for creative ideation by a large number of varied industries; ranging from education to finance.

In 2017, OpenGenius became the first Welsh company to be selected for the international 'accelerator' training and networking programme (ELITE) at the London Stock Exchange. A scheme which has helped them develop their scalable business model as well as building new strategic partnerships, increasing sales and raising awareness of their brand and pioneering products.

The British Business Bank has announced the accreditation of Robert Owen Community Banking Fund (ROCBF) as a lender for the term loan variant of the Enterprise Finance Guarantee (EFG) Programme.

Based in Newtown, Mid Wales, ROCBF has recently launched an enhanced range of ethical loans for businesses, individuals and communities across Wales. These business loans, ranging from £1000 to £50,000, are available to support a spectrum of local enterprises.

Specialist property peer-to-peer lender CrowdProperty has reached three major landmarks after fully funding the 70th project on the CrowdProperty platform. CrowdProperty has now funded the development of 500 Great British homes, worth over £80,000,000 having lent over £30,000,000.

ThinCats, the fintech lender for mid-sized SMEs, today welcomes a new £20 million funding commitment from British Business Investments, a commercial subsidiary of the British Business Bank.

British Business Investments is making the new commitment under its Investment Programme, which supports the development of more diverse debt finance markets for small and medium sized businesses. The commitment will provide ThinCats with additional capital to make term loans which will support the growth of businesses across the UK.

Praetura Asset Finance Group (PAF Group), an asset finance lender based in Manchester, today announces it has closed a £75m securitisation facility with NatWest Markets. The rated facility will allow PAF Group to expand its origination capacity, enabling growth in its loan book to provide up to £200m to SMEs across the UK.

Goji, the specialist direct lending investment manager and platform, has launched its 25th platform technology client, enabling 25 direct lending investment managers to offer financial products, such as the IF ISA to retail investors.

Five of these managers were added just this month, including Earthworm, Dot Fund, Route Finance, Growth Capital Ventures and Bird Box Bonds and there are at least ten more who are looking to launch using Goji’s technology by the end of the tax year. These new firms are in addition to Goji’s existing client base who include the likes of Downing, Landbay and Assetz Capital.

The Midlands Engine Investment Fund (MEIF) has provided two debt packages, committing a total of £410,000 to support local Nottinghamshire businesses.  The £200,000 loan to Optimise Accountants and the £210,000 provided to Renato Software will give the businesses’ capital to invest in and expand product lines as well as investing in several key functions in the business.

LSN Diffusion (LSN), a high-tech metallurgical business has secured a further £1.25m loan from the Development Bank of Wales to support their ambitious growth plans.  LSN’s cutting-edge technology is used to manufacture high alloy atomised powders used in high-tech industrial applications including 3D printing and specialised uses in the defence and other industrial sectors.

The latest HMRC ISA Bulletin confirmed that ISA subscriptions cannot be held with eMoney providers. Goji, the specialist direct lending investment manager and platform, comments on how this could impact the investment industry and the P2P sector. 

MEIF Maven Debt Finance has provided Validair Monitoring Solutions Limited, a technical services and environmental monitoring solutions company, with a £160,000 debt funding package. The funding will enable the business to expand its service offering overseas, invest in its product portfolio to meet growing market demand and support the appointment of four employees in the region.

Fintech business lender MarketInvoice has announced it has raised £26m in new equity funding. This Series-B funding round was led by Barclays and fintech fund Santander InnoVentures with significant participation from European venture fund Northzone, an existing investor in the company. Technology credit fund Viola Credit, who also participated in the equity round, will provide a debt facility of up to £30m to help scale the MarketInvoice business loans solution, that sits alongside their core invoice finance solutions.

With 17 years’ experience working in asset based lending and invoice finance, the appointment of Nigel Hibbert as ABL director strengthens IGF’s presence in the South East. Following this latest appointment, IGF’s ABL sales team has increased 50 percent in the last 12 months.