Manchester tech firm secures additional £4m in investment
Manchester-based lead generation technology business ROI has secured a further £4million in investment from BGF.
The deal comes just seven months after BGF’s initial investment, taking the total invested to £7m.
ROI was founded in 2018 by entrepreneurs Robin Kaneteg and Joel Halling and allows small businesses to rent a highly optimised website to attract more leads and in doing so boost sales.
In November, the company acquired the consumer finance assets of Raketech to accelerate the company’s growth in the financial services sector and establish a base in Norway.
It is aiming to become the number one lead generation business in Europe.
Since BGF’s first investment, ROI has made strategic hires in key locations and is already seeing "significant" growth in new markets.
Robin Kaneteg, co-founder and CEO of ROI, said: “We have invested in building a market-leading technology that allows businesses to grow. This has underpinned our own growth to date, but the pace of digital transformation we’ve all experienced in the past 12 months has resulted in a surge of enhanced interest that we have been ideally positioned to address.
"The additional funding from BGF will allow us to unlock growth even more quickly, expand our market share and move into more locations and vertical sectors, as well as considering complementary acquisitions.”
Pinesh Mehta, investor at BGF, said the business had a "genuinely innovative proposition capable of significant scale".