A northeast marketing tech company has announced it will make a £ 1.75m investment led by a London-based financial services company.
Leaf.fm received the six-figure investment from a round-led SME financial services company Maven Capital Partners.
The North East Development Fund provided £ 1m and a further £ 750 through the Future Fund, which was supported by the British Business Bank.
The funding allows Leaf to invest in its engineering and data science teams, as well as sales and marketing activities, and to expand its operations in Newcastle.
Peter Smith, Investment Associate at Maven, commented, “Social advertising space is constantly evolving and companies need to stay dynamic to ensure, more than ever, that they engage customers and create customized experiences to keep those customers happy.
“Leaf helps companies acquire and retain high quality customers at low cost in an increasingly competitive environment.
“Gilbert [CEO of Leaf] has built an impressive business and we are excited to support the business in an exciting new phase of growth. “
Gilbert Corrales, CEO of Leaf Grow, said, “Leaf has grown significantly over the past two years with very little capital investment.
“The entire team is excited to see what we will achieve with the additional support from investors, and we are very excited to have Maven as part of this round.
“It is an exciting time for us and we are experiencing a very strong commercial pull from customers all over the world.”
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