AccessPay receives £1m investment from NPIF

Manchester based AccessPay has received an investment from NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund, consolidating its position as the fastest growing Fintech company outside of London.

Having been recognised as one of the 50 fastest growing tech companies in the UK by Deloitte – the fastest growing fintech outside of London – the business has enjoyed growth of 100% from the period January 2016 to January 2018, taking a leading role in driving innovation in the financial technology landscape.

The business has received this latest funding injection courtesy of Maven Capital Partners one of the UK’s most active SME investors on behalf of the Northern Powerhouse Investment Fund (NPIF), which provides Microfinance, Debt and Equity investments to help small and medium sized businesses in the North of England to grow and develop.

The investment was based on the shared vision both organisations had of building a strong and vibrant tech community in Manchester. CEO Anish Kapoor has set out the business’ ambition to double its size this year with AccessPay planning to use the investment to significantly increase head count at its central Manchester offices, and is looking to recruit another 50 people this year to support its rapid revenue growth.

Anish Kapoor CEO said: “We had a great 2017 which meant the business was already profitable and highly cash generative. But as we discussed our vision with Maven it became apparent that we shared the same goals for building a thriving tech community in Manchester.

“The £1m investment will allow us to accelerate hiring in Manchester and give more great people the opportunity to get in the fast growing FinTech space.”