Cheshire based 7i Group Ltd has received £150,000 funding from NPIF - FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).
The global pharmaceutical insights company, now heading into its third year of trading, delivers evidence, analysis and insights to various global pharmaceutical companies, medical device companies and the NHS.
The firm has enjoyed rapid growth since launching in 2017, developing the team from an original two to 12 strong – the firm is expected to double this figure within the next year. A recent relocation within Alderly Park Bioscience Campus to larger offices will help facilitate further expansion, delivering specialist consultancy and insight services to global pharmaceutical companies.
Andrew Sellick, managing director at 7i Group commented: “Although we have only been trading for two years, we have and continue to enjoy a steep, growth curve. Both myself and my business partner have considerable experience within this area of the pharmaceutical industry and have been able to apply this knowledge and understanding to capture a growing global customer base.
“The funding from FW Capital forms an important part of our continued journey, essentially unlocking capital that will allow us to invest further and grow in line with market demand. Simon Berry from FW Capital has worked closely with us to fully understand our business, recognising how funding will help us realise our potential. We’ve had a fantastic experience working with them and the support they’ve shown us has been invaluable.
“Moving forward, we're looking to expand our business through new customer segments, services and geographies. To succeed with this growth strategy we need to continue to recruit the very best people, sometimes slightly ahead of market demand. The funding from FW Capital will enable us to do this We’re incredibly excited about the potential of our business and the impact it is having within our industry.”
FW Capital’s senior investment executive Simon Berry said: “In its first full year, from a start-up, 7i Group achieved £300K in sales. The two principals have significant experience in this sector and the company has secured some large names in the international pharmaceutical industry as clients.
“The company won top performer at this year’s Bio City Accelerator Programme at Alderley Park and this investment will allow for further significant expansion.
“We’re very interested in speaking to established businesses in the biomedical, pharmaceutical and healthcare industries and have a lot of experience investing in these sectors.”
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.