Newcastle tech firm secures £500k investment
Activ Technology have secured £500k funding from FW Capital to aid its future growth plans.
Ian Gillespie, Managing Director at Activ, commented: “The funding comes at a positive time for the business and will play a key role in our future growth plans.”
In the upcoming months, the Activ team will be growing both in members and operations, planning to recruit a total of 16 new employees as it targets expansion beyond the region into the North West and Cumbria.
Kevin Maloney, a partner in the banking team at Muckle LLP, who advised Activ, added: “We knew the transaction had to be completed promptly and by working closely with Activ, UNW and FW Capital we were able to finalise the legal documentation on time for our client.”
John Healey, a corporate finance partner at UNW, said: “It’s great that local funds are being focused on providing growth capital to North East businesses.”