Software as a Service (SaaS) digital marketing provider, Out There, has secured a significant six figure investment from MSIF and the Company’s new Chairman, Andrew Windsor, former main board director of lastminute.com, in order to fund expansion.
Previously MSIF provided loans to the company in April 2016 and in October 2017.
The Chester based business has been trading since 2013 and is run by Chief Executive Officer, David Palmer and Client Services Director, Karen Melvin.
Out There 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.
David Palmer, CEO of Out There, said:
“We are delighted to have secured additional funding in order to enable us to expand Out There nationally. 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, said:
“Out There is a great example of how MSIF can assist businesses at various stages in their evolution. Having leant money to Out There Today 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. I am delighted that we have been able to assist and Andrew Windsor will be a great addition to the senior management team given his previous experience at lastminute.com and prior to that as Managing Director of Thomas Cook Retail.”