AccessPay secures £1m investment from NPIF

AccessPay has received a £1m investment from NPIF – Maven Equity Finance, which is managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund (NPIF).

The Manchester-based fintech company plans to use the funding to double its size this year and recruit another 50 people.

AccessPay achieved 73% growth between January 2016 and January 2018 and was named one of the 50 fastest-growing tech companies in the UK by Deloitte.

Anish Kapoor, CEO at AccessPay, 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.”

Sue Barnard, senior relationship manager at British Business Bank, added: “It is great to see the Northern Powerhouse Investment Fund through Maven backing a high ‘fintech’ growth business like AccessPay, which [is] at the forefront of emerging markets.

“Innovative companies both small and medium are key to the development of the Greater Manchester region and through our fund managers we aim to unlock even more growth potential by supporting more businesses in need of funding.”

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