Digital marketing agency Surge Marketing Solutions has secured a six-figure loan through NPIF - FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).
Founded in 2014, Middlesbrough-based based Surge Marketing Solutions offers client services such as website development and design, search engine optimisation (SEO), content creation and digital marketing.
The six-figure NPIF investment will be used to create eight new roles, including a Chief Technical Officer, Technical SEO, Developer and Sales Executive who have already joined the team. The funding will help safeguard a further 16 jobs.
The deal was facilitated by Keith Charlton, FW Capital Deputy Fund Manager.
FW Capital Investment Executive Rachel Smith supported on the deal and said: “Led by an experienced and dynamic director, Surge has seen sustained growth year on year. The business has invested in infrastructure and personnel, laying foundations to take it from a regional agency to national. With our investment, they will be able to build upon this strategy, increasing their marketing spend and implementing the planned acquisition of new talent which includes bringing on board a highly experienced Chief Technical Officer. We are delighted to have been able to offer this investment.”
David Porter, Surge Marketing Solutions Managing Director, said: “At Surge, we offer personal and innovative design, development and digital marketing services to clients in all sectors. Finding solutions that really work is what we do best and what we love most.
“This investment from FW Capital will support us as we continue to build on our growth strategy and invest in new talent with the creation of eight exciting new roles.
“The appointment of our CTO brings a whole new set of client problems we can now solve with software solutions. As well as E-commerce solutions, we are now able to develop software such as Mobile Apps, CRM's and ERP systems.
“We are grateful to FW Capital for the support and would certainly recommend them as a trusted and reliable funding partner.”
Tees Valley Mayor, Ben Houchen, said: “Surge is a brilliant local business helping to drive forward our ever-growing digital and professional services sectors. This latest funding is showing how our money is helping our companies create good-quality, well-paid jobs to help them thrive. In this case, it’s given Surge the opportunity to make a national name for itself, in turn putting our region on the map even more.”
Sean Hutchinson at British Business Bank, said: “The Northern Powerhouse Investment Fund is pleased to be a part of the next chapter of Surge’s growth journey. Access to finance is a key tool in driving growth and helping companies reach their goals. The funding will support the growth of the business with eight new key roles, which in turn will help to support the economic growth of the area.”
FW Capital provides loans of £100,000 to £750,000 to businesses based in the NPIF region with a focus on the North West, Cumbria and Tees Valley.
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.