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04 April 2014

Plan B Funding Limited secures £300,000 equity funding from The North West Fund for Digital & Creative

Press Release 4th April 2014

Plan B Funding has secured a £300,000 venture capital investment from The North West
Fund for Digital & Creative.

Plan B Funding offers a fast and flexible digital marketing solution to banks and other financial institutions wanting to access retail and SME depositors. Their offering includes a digital platform, quickly customised and efficiently integrated into the banks' own systems, which accesses depositors either through the company's own direct networks, or through integration into a network containing all the leading price-comparison websites and numerous digital publishers. The management team has long experience in the financial services and digital marketing sectors, offering firmly-grounded advice and experience to their financial services clients.

Plan B Funding was founded in 2010 by Kevin Mountford who has held senior management positions in banking and latterly at MoneySuperMarket. Backed by an international syndicate of angel investors, he assembled a very high calibre management team, and using the proceeds of the Fund's investment, has established its head office in Manchester.  

The company is already profitable, and plans further expansion, with the expectation of creating around 20 jobs as it signs additional banking clients, as well as new market entrants such as peer-to-peer lending platforms.

Kevin Mountford, founder and CEO, said: "Plan B Funding is delighted to receive funding from The North West Fund for Digital & Creative which will be used to help the future growth and success of the company. The funding will allow us to further invest in our
digital and mobile platforms whilst at the same time expand our business development capability and look at emerging markets both in the UK and beyond."

David Smith, Investment Director, AXM Venture Capital, which manages The North West
Fund for Digital & Creative, said: "We are very pleased not only to have backed such an experienced and capable management team, but to have played a part in the Company setting up its headquarters in the North West region."

The North West Fund for Digital & Creative is part of The North West Fund and is financed by the European Regional Development Fund and the European Investment Bank.

 

 


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