Consumer tech firm backed by investor THG receives £ 13million boost
A Cheshire consumer tech firm, which is backed by investors like THG and Sorted, has secured Â£ 13million in funding.
Tactus Group has accepted the package from Santander UK as it prepares for its next phase of growth in 2022.
The Growth Fund is the company’s third round of funding in 2021, after raising Â£ 40million from Chrysalis Investments in August and a Â£ 12.5million investment led by Arete Capital Partners in April.
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Chrysalis Investments’ portfolio includes companies such as THG, Sorted and Secret Escapes.
Liverpool-headquartered Arete Capital Partners, which also owns a stake in Manchester-based Sorted, also owns interests in Peak and SysGroup.
Tactus Group, headquartered in Warrington, will use the new funding to invest more in its people, develop its technology platform and improve its operational capabilities.
Managing Director Scott Brenchley said: âAs a growing technology group, Tactus is committed to building a team of people who know the industry and act quickly to influence and transform our markets.
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âWe also recognize the need to drive innovation by constantly investing time, money and ideas in developing the brands and platforms we have created to revolutionize the way people buy and use technology.
âThe continued support of partners and stakeholders is invaluable in making this a success, so this funding from Santander UK will be crucial for the future of the business and the people who make it. “
Charlotte Lees, Director of Strategic Debt Solutions, Santander UK, added: âTactus has grown exponentially over the past two years, and we’re excited to help fuel its next phase of growth with this funding.
âBoth acquired and growing organically, Tactus has a global footprint which is very complementary to that of Santander UK, making us the ideal funding partner, and we look forward to working together over the coming years. ”
Phil Tarimo and Lynn Li of DSW Debt Advisory advised Tactus on the transaction, while Richard Capper and Beth Finnie of Hill Dickson provided legal advice.
Martin O’Shea and Claire Dyer of Addleshaw Goddard advised Santander UK on the case.