Tech firm mxData secures £150k investment boost

App development firm mxData is hoping to expand its offer and create a raft of new jobs after securing a £150k investment boost.

The company, which is based at Atlas Business Park near Manchester Airport along with its sister firm, public transport app maker Mapway, received the six-figure funding from the Greater Manchester Loan Fund (GMLF).

Now, mxData intends to drive growth in the Mapway brand by adding new mobile app developers to its 35-strong team.

The company’s chief operating officer, Dave Thomas, said: “The investment will really help mxData in recruiting new talent and growing the Mapway business.

“This year we are set to exceed our forecast and finish the financial year in a stronger position.”

He added: “This investment will aid us in building on our successes and hiring the new talent we need to move our offering forwards.”

The GMLF is managed by private equity firm Maven Capital Partners.

David Wright, an investment manager with Maven Capital, commented: “The business has developed an impressive range of apps and services that compete with the best in the world.

“We’re delighted to have been able to support mxData through funding from the GMLF and look forward to seeing their continued growth over the coming years.”

Manchester City Council Leader Sir Richard Leese, who welcomed the investment, said the authority is “pleased to play a part” in supporting mxData’s development and growth.

He added: “Manchester’s digital sector is delivering cutting-edge innovation and establishing itself as an increasingly important element of the city’s economy.”

Founded in 2004, Mapway was last year recognised with Google accreditation as a Top Developer of Android software. Since its launch, the firm’s Tube Map app has been downloaded more than 15m times.

The chair of the Greater Manchester Local Enterprise Partnership, Mike Blackburn, commented: “This is a great investment that will allow mxData to grow and create more jobs. Digital is a key priority growth sector for Greater Manchester and as a city at the heart of the Northern Powerhouse it is particularly fitting that we are supporting a company developing apps in the field of public transport.

“I look forward to seeing their future work.”

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