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SME growth investor Magenta Partners has invested in Voly Ltd, a fast-growing, multi-asset management and payment solution provider to the yachting, family office and media sectors.
Founded by former tennis player Ian Flanagan, Voly offers a comprehensive accounting and treasury management solution with curated ancillary modules, enabling yacht owners, captains, management companies and family offices alike to manage and report a yacht’s activities in real time with limited overhead resource.
Over the last 5 years, Voly has invested significantly in its software and support capabilities, which has facilitated around 50% per annum growth (including throughout the pandemic) and the expansion into adjacent verticals of family offices and media.
The investment underlines Magenta’s approach of backing high growth, niche businesses with strong prospects and exceptional management teams. The investment is the sixth of Magenta’s latest fund, which targets equity investments of £5 million to £20 million (c. €5.7 million to €23.1 million).
Tom Matthews, partner of Magenta, commented, “We are delighted to be investing in Voly. Ian and his dedicated team have built a market leading solution with great growth potential. The yachting industry is large and underpenetrated, and we are equally excited about Voly’s fast start in the conterminous sectors of media and family offices. Further module releases over the coming 12 months will reinforce Voly’s outstanding proposition to these core markets and provide a superb platform for rapid expansion. We will also be on the look out for interesting acquisition opportunities as the business scales.”
Ian Flanagan, founder and CEO of Voly, commented, “Magenta’s investment is testament to the amazing growth story of our business over the last 24 months - from industry challenger to clear market leader in yachting, successful entry into the asset management space for the UHNW family office client and the first steps into new verticals.
“Alongside Magenta and our incoming chairman, Simon Morse, we have ambitious plans - commencing with several exciting upgrades to our technology alongside a substantial investment in sales and marketing and the opening of several new offices.
“I’d like to thank the Voly team for their exceptional commitment and hard work and, as a team, we look forward to this exciting next chapter of growth.”
Magenta was advised by Marc Field at Addleshaw Goddard, and Philip Quigley at Smith and Williamson. Voly was advised by Mike Blood and Emma Hickman at JMW.
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