News

ClearPeople Ltd – the developer of Atlas, a leading B2B SaaS digital workplace product for Microsoft 365, in partnership with PwC as lead advisor, received one of The FSE Group’s largest growth capital investments to date. With this investment, ClearPeople will extend its marketing reach to fuel growth, targeting greater than £5M ARR by the end of its next financial year. 

ClearPeople is led by co-founders Katya Linossi (CEO) and Gabriel Karawani. Since its early days, the company has quickly expanded to work with clients across EMEA. Its clients span a variety of sectors, including law and professional services, financial services, construction and engineering.  

Showing accelerated growth, the company was accepted into the PwC Raise programme last year. “PwC were instrumental in helping us focus our message and refine our models to accurately reflect the value of Atlas to future investors,” says Katya Linossi. A strong relationship naturally developed with David Booth of The FSE Group who manage part of the £100M Greater London Investment Fund (GLIF), set up to support innovative businesses with a commitment to grow in London. 

The investment was closed in August 2022 and the funds will be used to accelerate growth of Atlas sales via focused investment in marketing, sales and customer success.  Katya Linossi said "We are really excited about the next stage, with this funding supporting us on that journey, we will continue our 100%+ annual ARR growth trajectory.”   

Barry Wakelin, Operations Director said "Working with PwC has helped us refine our messaging and financial modelling and introduced us to a broad range of potential investors for now and for the future. It was great to engage with David and The FSE Group who have proven to be attentive and supportive during the contract negotiations. We’re extremely excited to be able to use the funds to deliver greater than £5M ARR by the end of our next financial year." 

"The Greater London Investment Fund delivered by The FSE Group supports both early-stage and established SMEs looking to scale-up and realise their growth ambitions. ClearPeople demonstrated all of the key attributes that we’re looking for in a transaction including a strong and stable management team, excellent product proposition, and extensive customer and revenue base. We look forward to supporting ClearPeople in their next phase of growth" said David Booth from The FSE Group. 

"It has been a pleasure working with Katya and the team, and we're really pleased to have helped them close their round with The FSE Group. With the pandemic pushing people to remote working, it has been great to see Atlas in action providing an intuitive digital workspace for a long list of blue-chip clients. I look forward to watching them expand in the US over the coming months, following this investment round!" concluded Thomas Hudson from PwC Raise.

About ClearPeople 

Built on Microsoft 365, Atlas, by ClearPeople, is the most advanced Digital Workplace and Intranet platform in the market. In a single and intuitive interface, Atlas connects people to what matters most at work by solving the problems of having dispersed digital tools, too many silos and stuff that’s hard to find.  

Atlas empowers your people by reducing technology friction, enabling remote and hybrid working, and increasing productivity and employee engagement.  

A Hampshire based business has secured £250,000 of funding from the Enterprise M3 (EM3) Funding Escalator, managed by The FSE Group. The EM3 expansion loan will be used for further product development and to create up to eight new jobs. 

International Rail has been delivering market leading web-based B2B rail booking solutions to its travel management company and tour operator clients for over 25 years. During that time, its team have built strong relationships with most of the world’s major rail networks, allowing it to offer a search and book service for almost any point-to-point journey in the world.  

With technology acting as a key driver since the company’s inception, International Rail has developed 1track, a proprietary software platform through which it can offer the world’s largest selection of rail journeys and passes. A white label offering, 1track allows International Rail’s clients to offer the service directly to their own customers with an easy to navigate dashboard and integrated payment options. It is also playing a key role in the move towards sustainable travel by providing CO2 emissions data reporting. 

Having many leading travel companies as its clients already, International Rail has recently won a contract as preferred rail booking supplier for the world’s largest travel management company. This presents a huge opportunity for the business and the EM3 funding will help to ensure International Rail can increase capacity and push forward with further platform developments, delivering a seamless service at a time of growth. 

CEO and Founder, Rod Maton, said: “Seeking finance for growth based on a future contract can be challenging, especially when recent trading has been impacted by a global pandemic. Without this funding our 1track platform would see a slower global roll out with developments implemented in stages. Thanks to the more far-sighted approach taken by FSE and the EM3 loan scheme, we are now in a position to expedite our growth strategy and quickly deliver the world’s leading rail booking system, enabling clients to see a full sustainability dashboard and make greener choices accordingly.  

International rail travel has gained huge momentum over the past few years with cross-border rail travel now estimated to be in excess of £3bn and growing.  By comparison, forecasts show that air travel is set to shrink by 10% over the next decade. Driving this are long term shifts in attitude to climate change at governmental, corporate, and individual level coupled with a more innovative and competitive rail landscape across Europe. 

Cheryl Weeks, Head of Funds – South East, at The FSE Group, commented: “Over the past two decades and more, Rod and his team have established networks across the global rail sector resulting in contracts with 90% of the world’s rail companies. This, together with the intellectual property it owns and its unbeatable reputation for outstanding customer service, places International Rail at the very forefront of its sector. This agile team is perfectly positioned take advantage of the growth opportunity available and we look forward to continuing to support them on this journey.” 

Sue Littlemore, Joint Managing Director at the Enterprise M3 LEP said: “It’s fantastic to see the LEP play an important role in helping International Rail stay on track with its ambitious growth plans, allowing the business to develop its products and create new jobs in the EM3 area.” 

 “Technology is part of the way ahead to improving rail services that are efficient, environmentally sustainable and fit for the future and International Rail meets the EM3 vision to support a low carbon, high growth economy perfectly.” 

The Enterprise M3 Funding Escalator is a £10million initiative funded by Enterprise M3 LEP. The escalator includes an expansion loan scheme, a short-term trade loan scheme and an equity growth fund and provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the EM3 area. 

A Worcestershire-based advanced manufacturing and engineering firm has secured £250,000 to create new jobs, diversify its product line and grow its customer base. 

Handling Concepts received funding from the Midlands Engine Investment Fund (MEIF) provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme (RLS). The MEIF funding will help to service contracts and invest in 5 high-quality jobs. 

Established in 1994, Handling Concepts provides specialist engineered solutions for materials and industrial process handling. The solutions range from standard production line products to custom designed installations that enable a variety of manufacturers to manage their production process safely and efficiently.  

The business has seen progressive growth and works primarily with UK blue-chip manufacturing businesses in different sectors. Handling Concepts’ success is credited to the exceptional customer care it provides leading to its strong reputation in the market for engineering excellence. 

Karie Burbeck, Chief Operating Officer of Handling Concepts, said: “Over 27 years we have expanded our specialist solutions to meet the requirements of our client base. The MEIF loan comes at a crucial point, enabling us to meet high customer demand as we recover from the effects of the pandemic. This is an opportunity for significant growth and the funds will allow us to invest in key jobs and better service our customers.  

Chris Bailey, Investment Manager at The FSE Group, which manages the MEIF Debt Finance Fund, adds: “We were impressed by Handling Concepts’ team, strong reputation and high quality products, which has resulted in excellent levels of customer retention. Furthermore, the company has the opportunity to grow in other industries and market itself to new customers. We are delighted to be able to offer this funding and look forward to working with Karie and the team to ensure they reach their goals for growth.” 

Mark Wilcockson, Senior Investment Manager at the British Business Bank, said: “The MEIF recognises the growth potential of small businesses in the Midlands, providing support and growth opportunities to help ensure the whole region is able to grow. The funding for Handling Solutions will create local jobs and enable the company to expand its customer base in other industries.” 

Gary Woodman, Chief Executive of the Worcestershire Local Enterprise Partnership, said: “It is fantastic to see yet another Worcestershire business being supported to grow through the Midlands Engine Investment Fund. At a difficult time for many, I am pleased to see this support providing Handling Concepts the opportunity to expand their team, bringing 5 high quality jobs to the county. As a result of this investment, the local economy as a whole will benefit and it will help us continue to create growth opportunities across Worcestershire. 

For any Worcestershire businesses looking to access support programmes and funding for your business, please contact the Worcestershire Growth Hub team as they can help you point you to the right support for your organisation.” 

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank. 

The FSE Group, MEIF Debt Finance Fund provides loans between £100,000 and £1.5million to help growing SMEs across the region. 

A Bracknell based food production business specialising in Caribbean and Mauritian cuisine has secured funding from the Thames Valley Berkshire (TVB) Funding Escalator. 

Coco Labelle has received a new £168,000 trade finance loan, which follows a £100,000 expansion loan in 2021. With the initial funding used to fit out a commercial unit and obtain food safety accreditations SALSA & Approved Premises Accreditation, enabling the business to scale from a kitchen table catering venture to a full-production operation, this new loan will be used to support the company to deliver a contract to supply the 2022 Commonwealth Games. 

Set up in 2014 by trainee solicitor turned chef Elisabeth Brown, Coco Labelle provides African Caribbean food served from a vintage truck to street food markets, high-end festivals and private events including celebrity weddings. By 2020 Elisabeth had won a tender on the NHS Supply Chain for the supply of African & Caribbean meals to the NHS and has gained an impressive reputation, with social media endorsement from acclaimed chefs Michel Roux Jr and Nadia Hussain and Chair of NHS Food Review Philip Shelley. 

The contract to supply the Commonwealth Games is substantial, with Coco Labelle providing over 110,000 frozen meals across 35 different recipes.   

Elisabeth said: “With the initial expansion loan helping us to grow our operation capabilities, this latest investment has allowed us to take on a contract that we may have otherwise had to decline. Large contracts often require a level of up-front investment that small businesses like ours do not have the working capital to support. We are grateful to FSE for taking the time to really consider our proposal, see the full potential of our business and continue to back us as we expand. The support of FSE has been incredible. Thank you” 

Simon Blackbourn, Investment Manager at The FSE Group, which manages the TVB Funding Escalator on behalf of TVB Local Enterprise Partnership (LEP), commented: “Elisabeth is a resourceful entrepreneur who has deftly balanced the demands of building a business from the family home. Coco Labelle has a demonstrable track record of growth and profitable trading and with its professional kitchen facilities now in place, is in a strong position to take advantage of the opportunities this brings. We are delighted to continue to support Elisabeth as Coco Labelle delivers this contract and we look forward to working with the business as it grows further.” 

Thames Valley Berkshire Funding Escalator is an £11.3m initiative funded by Thames Valley Berkshire LEP. The Escalator includes an Expansion Loan Scheme, a Trade Finance Loan Scheme and a Growth Equity Fund, providing eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across Berkshire. 

Award-winning audiobook platform xigxag has secured a £500,000 equity investment from the Cornwall & Isles of Scilly Investment Fund (CIOSIF), as part of a larger £1m funding round.

The funding round was led by the FSE Group, the appointed fund manager for CIOSIF, and includes a number of private angel investors and a successful crowdfunding campaign on the Seedrs platform.

The funding will enable the company, based in Gunnislake in South East Cornwall, to expand the capacity of its development team and broaden its marketing channels with the recruitment of 17 team members over the next three years.

xigxag was recently voted Best New Business in the 2022 Cornwall Business Awards.

xigxag aims to shape the future of books with the world’s most accessible, engaging and sustainable listen-and-read platform. It has a technologically advanced content platform, powering a market-leading mobile app. AI-enabled technology integrates human-voice-narrated audiobooks and ebooks in an exclusive new format called the x-book®.

Users can listen to a book being read by the author then switch to reading it on their device, picking up the story in the same place and with the added features of being able to see illustrations, search in the text, look up words, take notes and share quotes.

Customers have access to over 40,000 titles from 15 publishers on the xigxag app. Penguin Random House, Hachette, HarperCollins, Pan Macmillan and Bonnier are among the publishers on board with more in the pipeline and plans for US expansion already underway. The xigxag app has been downloaded over 40,000 times and the company won the Tech Nation Rising Stars award for 2022.

Kelli Fairbrother, CEO at xigxag, commented: “xigxag is riding a massive global audio trend to power an exciting new listen-and-read experience in a space where digital books haven’t really been innovated in decades. Our revolutionary app makes reading more flexible, engaging and accessible, while also providing a far more sustainable alternative to physical book publishing and distribution. Being an eco-conscious company is something we are incredibly proud of and we are delighted to be one of the many Cornish businesses that are facilitating the change to a greener lifestyle.”

Meg Salt, Investment Manager at The FSE Group, added: “xigxag is in an excellent position within a vibrant sector. Their product is easily scalable and presents real scope for accelerated growth in the near future. We were impressed by the team driving the company forward. Management is made up of highly experienced individuals supported by industry-leading advisors who have immense collective knowledge. The business is committed to building the most engaging digital reading app on the market, with the potential to challenge the dominance of physical formats in the £100bn book publishing industry. We look forward to the next chapter of their exciting journey.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

Ken Cooper, Managing Director from the British Business Bank said: “This is the fund’s largest deal so far this year and has leveraged significant additional investment from angels and a successful crowdfunding campaign. This package will accelerate xigxag’s growth at a critical time in its evolution, including expansion into the US.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “xigxag is another example of a disruptive Cornish tech company using innovation to break new ground in global markets. They are reinventing the digital book concept and giving customers much more flexibility in how they access and enjoy digital content.”

CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2​​​​