Manchester software provider Invosys secures £6.3m funding
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.