Following a year of steady growth that includes working with over 70 of Wales’ largest brands, Business News Wales has announced new investment from The Development Bank.
Led by Managing Director, Mark Powney, Business News Wales has secured a six figure investment to enable the business to recruit a new editor, sales team and expand on the services it currently offers to clients, including the ability to provide a new add-on product suite.
Business News Wales was founded back in 2015 and has grown to become a widely respected B2B news platform in Wales read by up to 20,000 business professionals in Wales every day. It works with brands such as Business Wales, NatWest and Grant Thornton and covers a concise range of business sectors and issues ranging from construction & property to life sciences. It has built a reputation as a trusted B2B communications channel, providing lead generation, brand awareness and thought leadership opportunities.
Mark Powney, Managing Director Commented:
“As the media landscape in Wales consolidates further in 2019, this investment will enable us to strengthen the team and expand on the services we offer clients, bringing new, exciting opportunities. We are looking forward to what the future holds and can’t wait to continue developing our unique and diverse news platform.”
David Roberts, Portfolio Executive at the Development Bank of Wales said:
“We are here to support the growth and expansion of ambitious Welsh businesses. Business News Wales is a great example of an indigenous Welsh business that we have previously supported with start-up funding that has enabled the team to achieve strong growth with over 20,000 business contacts now engaged with the platform. Our latest round of funding will now directly lead to the creation of new jobs and the development of new services. We are regular users of Business News Wales and wish the team every success!”
Craig Blackmore, Verde Corporate Finance Commented:
“Verde Corporate Finance was delighted to support Business News Wales on this fund raise. Business News Wales provides a great platform to showcase Welsh business news. Mark and his team have exciting plans to widen that platform offering, which will be made achievable with this fund raise. It was also great to work alongside the Development Bank of Wales and their flexible approach allowed the deal to happen. This will allow Business News Wales to drive forward as a key voice for Welsh business news.”
Funding for the deal came from the Wales Business Fund, part-funded by the European Regional Development Fund through the Welsh Government.