Thu 22 February 2018
Liverpool equity and loan provider MSIF has made a significant investment into a North West digital marketing business to help fuel its national expansion.
It has joined forces with the new chairman of Out There, Andrew Windsor, to provide the six-figure sum to the Chester-based firm. Mr Windsor is a former main board director of lastminute.com.
Out There has been trading since 2013 and is run by chief executive David Palmer and client services director Karen Melvin. Previously MSIF provided loans to the company in April 2016 and in October 2017.
The company connects consumers directly with local businesses providing suggested places to eat or drink, places to visit or potential gifts they might like to buy, together with local deals and promotions, based on their current location.
Out There plans to use the investment to expand the company’s offer nationwide. The funding will also allow the business to recruit new staff members and expand their marketing efforts, ultimately engaging more users.
Mr Palmer said: “We believe that many small local businesses can benefit from our services enabling them to profitably boost their takings and for consumers it will give them access to a wide range of great offers, or hidden gems, all over the UK.”
Simon Thelwall-Jones, MSIF investment director, added: “Out There is a great example of how MSIF can assist businesses at various stages in their evolution.
“Having lent money to the business previously we saw the potential of the business and it was a natural step that once they required equity investment they came back to us for further support.”