Salford software business Beyond Comparison nabs £200k funding

Software business Beyond Comparison Group Limited (BCL) has secured a six-figure boost from The Greater Manchester Loan Fund (GMLF).

The Salford-based company, which creates white-label comparison software, will use the £200k funding to diversify its offer and develop new comparison engines for businesses in the travel, car and pet insurance markets.

Further, the GMLF cash will support the growth of BCL’s operations, secure jobs and help the firm double its workforce over the next two years.

Founded in 2012, today BCL’s software is deployed by companies in a range of sectors, from utilities and telecommunications to insurance and financial services.

The Loan Fund is managed by private equity house Maven Capital Partners.

Beyond Comparison MD Lee Plaister said: “Maven was really supportive of our ideas and growth strategy and the funding process was relatively quick and very straightforward.

“The additional funds will enable us to further our investment in technology/software development and increase headcount in sales support and we are delighted to be working with the investment team at Maven in the coming months and years.”

Alex Rothwell, investment manager at Maven, commented: “Beyond Comparison is a fast growing, innovative company which is set to continue to develop and diversify its offering as it expands into different sectors of the marketplace.

“The investment in Beyond Comparison will safeguard jobs in Greater Manchester whilst establishing the potential to create additional positions in the next two years.”

Alex added: “GMLF is delighted to support this exciting business and continues to look to provide funding into other SME companies in the Greater Manchester area looking to grow.”

Greater Manchester Local Enterprise Partnership chair Mike Blackburn said BCL, as an “innovative technology company”, forms a “critical part” of the area’s continued growth.

He explained: “This funding will enable the company to diversify into further markets, allowing it to safeguard and create new jobs for local residents.

“I look forward to seeing BCL’s continued success in the future.”

The investment was also welcomed by Salford City Mayor Paul Dennett.

He commented: “This is a very welcome boost for a Salford software company which has great potential.

“I’m delighted to see the fund being used to help grow technology based jobs in our booming digital city.”

The Greater Manchester Combined Authority’s (GMCA) lead member for investment and finance, Cllr Kieran Quinn, said the six-figure boost is “another example of how GMCA is supporting private sector innovation and job creation through the Greater Manchester Loan Fund”, adding: “We’re determined to help ensure Greater Manchester continues to be a great place to do business.”

Jill Parker, of law firm Pannone Corporate, supported the GMLF on the transaction.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →