Local: Wenso Secures £500k from Northern Powerhouse Investment Fund

Hallidays client Wenso, a one stop IT services and solutions company with headquarters in Manchester, has received £500K from Northern Powerhouse Investment Fund.

The funds have been allocated from FW Capital Debt Finance managed by FW Capital and part of the Northern Powerhouse Investment Fund to support their next growth phase by expanding their 60-strong team.

Wenso clients include Newell Brands, Safariland, TDA Capital, Institute of Banking Studies and The Seimon and partnerships with Microsoft, Oracle, SAP and Salesforce.

Michael Berger, Corporate Finance Manager at Hallidays who supported Wenso throughout the process said:

“Wenso develop strong partnerships with their clients and are utilising the funds raised to continue to propel their business forward into new territories. This was the second round of growth funding we have advised on for the business and it was a pleasure to support the Wenso team securing this, enabling them to continue investing in their highly skilled team and service the ever-growing client base.”

Mushtaq Mohammed, Founder & Managing Director of Wenso, said:

“This funding enables the Wenso team to further study, understand and analyse our clients’ complex businesses. We then deploy next generation solutions and continuous improvement of process frameworks which improves efficiency and therefore contributes to business growth.

“Hallidays have been exceptional, Michael provided a great professional service in planning and executing the funding and continues to work with us on our growth strategy”.

Andy Traynor, Senior Investment Executive at FW Capital led on the deal said:

“Wenso have an extraordinary team of people who are highly skilled and passionate about delivering an excellent experience for their customers. They have a strong track record across the whole of the IT sector and are well positioned to take forward a number of excellent opportunities. We are happy to support the company in this next phase of their growth plans.

“Working with professional advisers like Hallidays can ease the investment process and ensure the money gets to the customer in a timely manner.”

Sue Barnard, Senior Manager at British Business Bank said:

“We are pleased to be able to support Wenso in achieving its goal of further global expansion right from its base here in Manchester. We look forward to watching this international IT company grow its revenue and sales by boosting its team numbers and reach through this NPIF investment.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.