Muckle advises on investment into Tyneside tech firm
Lawyers from our corporate and banking teams have advised NEL Fund Managers on a £200,000 investment into North East digital technology firm Xinfluence.
Xinfluence’s software platform Xi enables brands and advertising agencies to search, engage, and collaborate with verified influencers, helping them identify the most appropriate partners for online marketing activities. Xi uses a range of metrics to help and maximise clients’ return on investment, helping the creation of tailored marketing content for social media platforms such as Facebook, Instagram, Twitter and YouTube from concept through to full post-campaign analytics.
Influencing regional growth
The Newcastle business, which also has a London office, is using a £200,000 investment from the North East Growth Capital Fund, which was sourced through regional fund management firm NEL Fund Managers, to boost its sales and business development resources, with up to 11 new jobs expected to be created over the next two years.
Xinfluence was founded four years ago by brothers Mark and Paul Wright, who have five decades’ of combined experience in the digital marketing, technology and sales industries. The company has also brought in Gary Hunter and Sam Morton, founders of renowned affiliate marketing company The Redu Group, as non-executive directors.
Xinfluence director Mark Wright says, “We recognised that it was too easy for companies to spend a lot of money without having any clear idea of their likely return on investment, so spent two years developing a platform that would give them access to reliable, recognisable data on which they could base their decisions.”
Jane Siddle, senior investment executive at NEL Fund Managers, added: “Xinfluence provides the type of detailed insight that could make a huge difference to the impact of digital marketing activity and has a robust business plan in place for how this insight is going to be delivered.”
Trusted advisors
NEL Fund Managers were supported in the transaction by Zoe Ditch and Hayden Richards, associate solicitors in our banking and corporate teams.
Hayden said: “We are delighted to have helped NEL Fund Managers deliver this latest investment. Given Xinfluence’s growth potential, this deal is another exciting boost for the North East.”
To learn more about how we can support your business, please contact Hayden Richards on 0191 211 7881.