Member Article

£20k Finance Yorkshire loan allows brand management firm Igniyte to expand

Leeds-based Igniyte, which specialises in managing brands’ and individuals’ virtual profiles has received a £20k business loan from Finance Yorkshire to facilitate growth.

The funding has allowed the business, which was founded a year ago, to relocate from Saltaire to Leeds, employ more staff and upgrade software.

Igniyte, which started out with five members of staff, now employs 18, has increased its turnover five-fold and is growing a global customer base.

Simon Wadsworth, managing director, said: “We have had ambitious growth plans as a company from inception, but capital was needed if we were to meet our objectives.

“The funding from Finance Yorkshire combined with the expertise of the investment managers, has really helped us succeed and reach our goals.”

Igniyte, which found out about Finance Yorkshire at the Buy Yorkshire Conference, transforms the way brands, companies and individuals are viewed online through positive profiling, content and PR.“

Finance Yorkshire investment manager Grahame Lunt said: “We were impressed with Igniyte’s ambitious plans, which were backed up by a well thought out business plan.

“This is a new concept that has great potential and we look forward to working closely with the board in the months to come.”

Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.

To date Finance Yorkshire has made 561 investments totalling over £70 million.

This was posted in Bdaily's Members' News section by Clare Burnett .