South West digital e-commerce and marketing specialists Evo Agency have received a six figure investment boost to accelerate the growth of the business and support job creation.
Funding to support Evo Agency’s expansion has been provided by the British Business Bank’s South West Investment Fund (SWIF) via appointed fund manager FW Capital. The agency aims to create up to 20 new jobs over the next five years and become known as the leading digital e-commerce agency in the South West.
Based in Somerset, Evo Agency was founded by James Shakespeare. Today the firm is undergoing a significant transformation as it targets major growth into new areas. This includes the introduction of three new divisions including the Evo Academy which is an exciting new digital training academy facility for over 18 year olds. The Evo Academy will launch its first academic programmes in September 2024 and will focus on deprived and underserved communities in Somerset who struggle to access quality professional development. Another division, established within the last year, is Evo Talent. Born from a passion to put people first, the division works with dynamic and growing brands, and complementary businesses are also being established to further enhance the group’s technical capability.
James Shakespeare, Founder at Evo Agency said: “The timing of the funding from the South West Investment Fund through FW Capital has been instrumental in supporting our growth plans. It’s helped to accelerate our progress by 12 months. We’ve a real commitment to creating a strategic range of companies that support each other and create a legacy for the community. It’s about creating jobs and supporting the future success of the digital industry, enhancing the experience for our suppliers and clients. Through the Evo Academy we aim to train between 12-50 students per year.
“We’ve also got plans to create an Evo Foundation, a not-for-profit vehicle organisation where we can contribute a percentage of our profits to charitable causes. We’ve a lot going on and the backing of FW Capital has put us in the position where we can confidently develop our core business at Evo Agency and expand into these other exciting new areas.”
Jordan Berg, Investment Executive at FW Capital added: “Evo Agency is a well-established business that is going from strength to strength. They’ve reached an exciting stage of the business and the diversification into new areas is a significant step forward for the business. They’re committed to supporting the next generation with hands on, state of the art digital training and access to employment opportunities. The working capital funding we have provided comes at a critical time and I’m thrilled to be able to help the leadership team fulfil their ambitions.”
The South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help small and medium sized businesses to start up, scale up or stay ahead. Fund manager FW Capital provides debt finance using the South West Investment Fund to businesses in Bristol, Gloucestershire, North and North East Somerset and Wiltshire.
The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The South West Investment Fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
