Case Study: iPEGS- Northern Powerhouse Investment Fund
iPEGS secured a five-figure investment from NPIF
Workplace efficiency firm iPEGS is looking to grow its client base and expand overseas having secured a five-figure investment from NPIF – BFS & MSIF Microfinance, managed by GC Business Finance and MSIF and part of the Northern Powerhouse Investment Fund (NPIF).
iPEGS works with businesses to reduce paper wastage, helping them to move to more efficient and environmentally friendly technology-based systems. Through its app and web forms iPEGS helps companies cut down on the costs of printing, storing and recycling physical paper forms – improving both their environmental impact and efficiency. The company works with a range of businesses across various industries, although mainly in the paper-heavy education and health sectors.
The five-figure finance facility provided by GC Business Finance will fund the expansion of the business’ sales and marketing team. Having developed the systems to enable both national and international traffic and clientele, the maturing focus on sales and marketing coincides with the firm’s ambitions to spread internationally. Following a Northern Powerhouse-funded trade mission to Atlanta, iPEGS is eyeing the US and Middle East markets for penetration, as well as developing links to the Australian market.
CEO at iPEGS Adam Leese said: “With moves away from traditional form management and paper-based business practices becoming obsolete, iPEGS really stands to benefit from the paperless revolution. We have spent many years developing and refining our products and it is now time to expand aggressively both nationally and internationally. Securing finance through GC Business Finance and NPIF will help us in that mission.”
Andy Nichols, Senior Loan Manager at GC Business Finance said: “iPEGS has been a great business to work with. The ethos of efficiency and environmentalism is the perfect mix and precisely the kind of positive impact firm that we love to invest in. We’re looking forward to helping them to grow at pace and expand into the international markets that they’re keen to penetrate.”
The deal was introduced to GC Business Finance by Cheshire and Warrington LEP’s Business Growth Hub. Andy Devaney, Business and Innovation Director at the LEP said: “We are delighted to have helped iPEGS access this finance by working closely with GC Business Finance. iPEGS are an innovative company whose ideas are helping the environment and helping other businesses to be more efficient. This funding will help them to continue their expansion in UK and international markets, we will continue working with the team at iPEGS to further their growth ambitions.”
Sue Barnard, Senior Manager at British Business Bank, said: “Historically, funding options for businesses in the North have been scarce, which has stifled growth and innovation in the region. NPIF is making real strides in reducing the regional funding gap between the North and the South, providing a variety of finance solutions that help businesses in the North realise their growth ambitions.”