Smartgate finds funding solutions with Finance Yorkshire
A DYNAMIC software solutions company has received a £300,000 investment from Finance Yorkshire.
York-based Smartgate Solutions, launched in 2012 by Paul Johnson and Lee Williams, will use the Seedcorn Fund money to hire more staff, convert interest into sales and reach a wider market.
Radar Healthcare, the company’s main product, provides a platform to help businesses meet time-consuming and often complex operational requirements, whilst simplifying regulatory Care Quality Commission compliance.
Paul Johnson, Managing Director of Smartgate Solutions, said: “Lee and I have ambitious plans for Radar over the next three years, we have developed a solution that will benefit thousands of privately owned healthcare organisations to meet the business and industry challenges they face.
“We have developed a proven system which delivers the necessary benefits being demanded by the industry.
“This funding allows the business to accelerate its plans and see the products being adopted and bringing about real improvements to healthcare operations.”
Thanks to the funding, Smartgate Solutions has been able to appoint additional staff, and further enhance the Radar platform.
Their ambition over the next three years is to build a client base of more than 100 clients in the healthcare sector.
Graham Davies, Finance Yorkshire Investment Manager, said: “Smartgate Solutions has built a software platform that is being very well received by health care providers.
“We see great potential in the Radar platform and are confident that this company will create numerous jobs and be highly successful.”
Finance Yorkshire provides Seedcorn, Loan and Equity Linked investments, ranging from £15,000 to £2million, specifically to help small and medium sized businesses meet the gaps in the market for the funding they need for growth and development.
To date Finance Yorkshire has made 543 investments totalling over £67.5 million.
Finance Yorkshire has been developed as a European JEREMIE* initiative and is capitalised by grants from UK Government (£15m), European Regional Development Fund (£30m) and finance from the European Investment Bank (£45m).
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire