A Leeds-based tech company whose advanced remote working software is used by the Home Office and the NHS has raised £400,000 from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF), and angel investors.

Flabba’s platform integrates with standard videoconferencing software such as Zoom or Microsoft Teams to provide a complete workflow solution. It enables professionals to collaborate with colleagues in different locations and manage projects from start to finish – for example booking appointments, managing and sharing documents, recording meetings and creating reports.

Flabba was founded by Colin Rhodes, a HR professional who had worked for enterprises including Microsoft, and software engineer Anthony Marris. The platform – Neugo – was created in 2017 to enable Kings College Hospital NHS Foundation Trust to manage recruitment of doctors and nurses from locations worldwide and has since been deployed across 20 other NHS Trusts and service providers.

It has also been adapted to help the Home Office to interview visa applicants and been approved by the NHS for remote patient consultations. The company has now developed specific versions for sectors such as legal, financial advice, professional services and creative industries.

The funding will enable the team to work with existing partners Zoom and Microsoft Teams to develop apps, and with Amazon Web Services to incorporate machine learning. Flabba, which currently employs nine staff, is planning to create a number of new jobs in Leeds.

Colin Rhodes, CEO, said: “Remote working is here to stay and we are very excited to be driving innovation to make collaboration easier and more effective for everyone. The funding will allow us to add new features, drive uptake across different sectors and establish the Neugo platform as the leader in the field.”

Will Clark of Mercia added: “Flabba’s platform is the next level in remote working and is currently the only one of its type in the market. It has already attracted some high-profile users and partners but the potential audience is huge. The investment will allow the business to build on its ‘first mover’ advantage and accelerate its growth.”

Sean Hutchinson at the British Business Bank, said: “It’s fantastic to see funding from the Northern Powerhouse Investment Fund contribute to the expansion of Flabba, as it looks to work closely with the likes of Zoom, Microsoft and Amazon to incorporate machine learning. We are pleased that NPIF is continuing to act as a springboard for Northern businesses to reach their growth potential and look forward to seeing what Flabba will achieve in the future.”

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.

ENDS

Press contacts

Alison Dwyer

Head of Marketing & Communications

Mercia Asset Management PLC

+44 (0) 7464 480 137

[email protected] 

Pauline Rawsterne

PR Agent

Turquoise PR

+44 (0) 161 860 6063

+44 (0) 780 163 9816

[email protected]

Gavin Fletcher

Chief Marketing Officer

Flabba

+447854979999

[email protected]

About Mercia Asset Management PLC

Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital: the Group’s ‘Complete Connected Capital’. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.

The Group has a strong UK footprint through its regional offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia currently has c.£940million of assets under management and, since its IPO in December 2014, has invested c.£111million gross into its direct investment portfolio.

The Group raises its own Enterprise Investment Scheme (EIS) Funds and manages Venture Capital Trusts (VCTs) details about open offers can be found through Mercia’s website.

Mercia Asset Management PLC is quoted on AIM with the epic “MERC” and includes the following wholly owned subsidiaries –

• Mercia Fund Management Limited is authorised and regulated by the FCA under firm reference number 524856
• Enterprise Ventures Limited is authorised and regulated by the FCA under firm reference number 183363
• EV Business Loans Limited is authorised and regulated by the FCA under firm reference number 443560

www.mercia.co.uk

About The Northern Powerhouse Investment Fund

• The Northern Powerhouse Investment Fund will invest in Microfinance, Business Loans and Equity Finance sub-funds which will offer financing ranging from £25,000 to £2m, specifically to help small and medium sized businesses secure the funding they need for growth and development.
• The Northern Powerhouse Investment Fund is operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity.
• The Northern Powerhouse Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company.
• The NPIF covers the following LEP areas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Hull and East Yorkshire, Leeds City Region, Sheffield City Region, and York & North Yorkshire
• The project is receiving up to £140,359,192 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.
• The funds in which Northern Powerhouse Investment Fund invests are open to businesses with material operations, or planning to open material operations, in, Yorkshire and the Humber, the North West and Tees Valley.
• The British Business Bank has published the Business Finance Guide (in partnership with the ICAEW, and a further 21 business and finance organisations). The guide, which impartially sets out the range finance options available to businesses and provides links to support available at a regional level, is available at www.thebusinessfinanceguide.co.uk/bbb