Aero Commerce has secured £750k with investment from the North East Development Capital Fund, managed by Maven.
It will enable the Middlesbrough ecommerce film to open a new Newcastle office and invest in its sales and market activities.
“We are excited to work with Maven on the next stage of our growth journey,” said Richard Bendelow, CEO of Aero Commerce.
“The investment provides the perfect springboard to progressively develop the platform and take it further to market. There are already a number of Aero sites live that are out performing the competition in terms of speed, infrastructure costs and conversion rates. The pipeline of sites in development via our agencies is also exceeding expectation, these are truly exciting times for Aero!”
A total of £550k was provided via the North East Development Fund, supported by the European Regional Development Fund and managed by Maven; £200,000 was provided by existing shareholders in this round taking the total investment to date to over £1m.
“We are delighted to support Richard and the team as they embark on a programme of growth,” added Michael Vassallo, Investment Director at Maven.
“Aero will support smaller agencies to attract enterprise level ecommerce website customers and provide an innovative, out of the box solution to those clients. Online sales and ecommerce platforms are highly attractive growth markets and we look forward to supporting Aero as it executes its expansion plans.”
Aero is led CEO Richard Bendelow, who co-founded Visualsoft, before selling the business in an MBO in 2014. The management team includes Visualsoft’s former CTO and Senior Developer – Matt Burton and Tim Spratt.