A Manchester-based social media marketing agency has secured £100,000 from the Northern Powerhouse Investment Fund (NPIF) as the initiative reaches its £10m milestone.
Engage Hub works with the likes of Living Ventures, Chop Houses and Q-Hotels.
It has pledged to use the funding boost, which was secured from NPIF – Maven Equity Finance, to expand its current team of specialists and provide additional working capital to meet demand from its rapidly growing customer base.
Ray Sherlock, director at Engage Hub, said:
"It's great to see the British Business Bank and fund managers working together to ensure businesses in the region have access to the right levels of funding.
With this investment, we will fast track our growth and productivity to propel Engage Hub forward to a world stage as one of the best social influence agencies around. This is our time.
With the funds we will also be creating new jobs, moving to bigger offices as well as delivering a disruptive marketing campaign for the leisure, lifestyle and hospitality sectors."
The NPIF has now invested more than £10m since launching at the end of February 2017.
Jake Berry, Northern Powerhouse minister, said:
"It's fantastic to see that so soon after we launched the Northern Powerhouse Investment Fund, it's already provided £10m to support Northern businesses.
The fund is a great example of what can be achieved when the government and businesses work together and is all part of our plan to boost the northern economy, creating more jobs and attracting investment in the region."
Andy Burnham, mayor of Greater Manchester, added:
"As we look to rebalance our country's economy, this fund's approach can show the benefits that investment in the North has locally and across the UK."
Keith Morgan, chief executive of the British Business Bank, which oversees the fund, stressed that the North of England has "long been a key region for innovation and economic growth" in the UK.
"Passing this £10m funding milestone in such a short space of time since launch is a fantastic achievement for the fund, our fund managers, and our partners in the ten participating Local Enterprise Partnerships."
Pictured above: Ray Sherlock, director at Engage Hub (right)
https://engagehub.co.uk/