A report by Nesta valued the Alternative Finance
industry at £3.2bn in 2015, with businesses attracted
by the flexibility and speed with which capital can
be raised. However, despite this, the same report
highlighted that 56% of micro, small and mediumsized enterprises were still relatively unaware of the
existence of non-traditional fundraising methods.
This opportunity is not lost on Norman Molyneux,
co-founder of experienced Alternative Finance
providers Acceleris Capital, “Across the Seneca
group of companies we offer agile solutions for SMEs
nationwide. Whether it be seed capital through
InvestingZone, direct EIS investment and ongoing
corporate finance support from Acceleris Capital or
expansion and development capital from Seneca, we
have all bases covered.”
Ben Smart approached Acceleris Capital and through
a combination of debt and EIS equity, provided as a
package by a group of high net worth investors, the
company raised £1.8m to fund the BIMBO and working
capital requirement.
Reports show that 16% of SME business owners are
being turned down by mainstream lenders and 31%
state that their inability to secure finance had directly
led to a lost deal or investment opportunity, the role of
Acceleris and Seneca is pivotal to the SME landscape.
For the year ending February 2017, the turnover of
Whitham is expected to reach £5.5m; the company
now employs 27 full-time staff compared to 14 and
contracts have been secured with corporations such as
Tesco, Carlsberg, JD Sports and Wilkinsons.
Ben Smart commented recently, “Our success is due
to our various recurring revenue streams. We see
ongoing servicing contracts with local authorities
and retail companies as a key part of our income.
This approach initially wouldn’t have been possible
without embracing alternative finance through the
expertise of Acceleris Capital. We are now well placed
to build longer-term relationships with a focus on
serviceability and delivery.”
[email protected]
0161 850 0156
Patrick is a Corporate Finance Executive at Acceleris Capital. Patrick works with a variety
of companies, from biotechnology to health food, concentrating on deal structure
and investment documentation. Following Acceleris Capital’s strategic merger with
InvestingZone, Patrick also works closely with the company on strategy and business
development as well as sitting on the board as company secretary.
ONSIDE WINTER 2016 |
Patrick Molyneux
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