Azzure IT secures £2m from NPIF - Mercia Equity Finance to accelerate business expansion
The financing marks the single largest investment completed by the Northern Powerhouse Investment Fund to date.
Share allotment filed at Companies House
Sheffield based provider of Microsoft Dynamics business applications that helps organisations across the United Kingdom improve productivity and growth.
Sheffield based Azzure IT has secured £2m in funding from NPIF - Mercia Equity Finance to support its next phase of expansion. The transaction represents the single largest investment completed since the Northern Powerhouse Investment Fund launched in the previous year.
The capital will be directed towards strengthening the management team, hiring additional implementation consultants, and scaling up sales and marketing operations. Azzure IT expects the injection to facilitate the creation of approximately 12 new jobs over the course of the coming year.
Established in 2011, the company implements Microsoft Dynamics solutions for small and medium sized enterprises as well as larger non-profit organisations. It currently employs 57 people and has previously featured in rankings such as the Deloitte Tech Fast500 EMEA and the Financial Times 1000 list.
Investor perspective
"Azzure IT’s success is due to its focus on service, quality and the ability to deliver real-world solutions to meet its clients’ challenges. Founded in the last economic downturn, the company itself used technology to take on emerging market challenges and to thrive and grow. Its goal is to support other growing businesses to achieve digital transformation. The funding will allow the business to scale up to meet growing demand and create 12 new jobs in Yorkshire."
Will Clark
Joint Fund Manager, NPIF - Mercia Equity Finance
Use of funds
- 01Grow the team
- 02Invest in sales and marketing
- 03Scale operations