Project and resource management specialist Projekt Rising has secured a £100k investment from Growth Lending to develop its project management automation technology, expand its product offering and enhance working capital.
The Peterborough-based business provides project delivery services across marketing, creative and technology. All Projekt Rising’s services are delivered by its global network of freelancers, which help businesses in all industries to deliver projects without the hassle of managing day-to-day delivery.
This year Projekt Rising celebrates its fifth year of trading and has recently reached the significant milestone of delivering more than 500 projects, as well as appointing a new Operations Director to its growing team.
The funding from Growth Lending is expected to help create several jobs across the business, with hopes to more than double the size of Projekt Rising’s team during the next 12 months.
Growth Lending has chosen to work with Projekt Rising due to the firm’s experienced management team and strong revenue. The lender is very familiar with the sector that Projekt Rising operates in and recognises that it is a great opportunity to support the growth aspirations of an ambitious and innovative business.
Growth Lending is a leading provider of fast, flexible and tailored funding for high-calibre B2B firms. The team – based in London, Manchester, Leeds, Bristol and Wales – has decades of experience with institutional lenders, alternative finance and invoice discounting, giving it the confidence to lend quickly. Growth Lending had a record 2021, providing £64m under the government CBILS initiative, to support businesses through the pandemic and aims to double in size by the end of 2022.
Chris Richardson, the Operations Director at Projekt Rising says: “The Growth Lending team have been exceptional throughout the whole process, providing clear guidance on how the facility operates and the risks involved.
“We are really impressed at how quickly Growth Lending turn around our funding requests through its helpful system, giving us the confidence that funds will be available when we require them.”
Rob Adams, Portfolio Manager at Growth Lending says: “This was a great opportunity to partner with an experienced, forward-thinking team and we are pleased that they chose Growth Lending to help fund and execute their ambitious growth plans.”