Manchester software provider Invosys secures £6.3m funding

Simon Austin's picture

Manchester-based communications software provider Invosys has secured a £6.3m funding package from Santander UK as part of its growth plans.

Invosys, founded in 2006 by Rob Booth and Peter Crooks, is a wholesale provider of its own cloud communications software and platform. Recently, the company has evolved to become a broader communications technology provider.

Booth, CEO of Worsley-headquartered Invosys, said: “The funding will allow us to focus clearly on delivering our growth strategy and hitting our goals."

Peter Kennedy, Relationship Director at Santander UK, added: “The business has focused its long-term strategy on strengthening the partnerships it has established in the UK, broadening its product set and developing other sales routes to market; a strategy aided by the acquisitions completed in the last few years.”

The company's turnover to September 2018 was £11.5m, up from £10.9m. Pre-tax profit was down from £1.3m to £1.1m and the number of employees had gone down from 56 to 30.

The company was advised by Knight Corporate Finance.

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