Appnovation receives £9.3 million in equity funding boost
Appnovation, a full-service digital consultancy company focused on delivering business outcomes that drive innovation, will receive £9.3 million in equity financing as part of a joint partnership between the Canadian Business Growth Fund (CBGF) and the UK’s BGF.
The investment will provide an opportunity for the industry focused business to accelerate its international growth and expansion strategy, whilst indirectly creating new jobs. It is likely to strengthen the company’s balance sheet, using growth capital, as it seeks to scale up internationally.
Appnovation already has a strong presence in Canada, headquartered in Vancouver, with offices in Quebec and New Brunswick, as well as a global influence with 14 offices across the Americas, Europe and Asia-Pacific, including their UK base in Reading.
“Appnovation is building an impressive business by executing a differentiated international growth strategy, and we are excited to partner with their leadership team as they evolve into a leading global digital consultancy”.
George Rossolatos, CEO of CBGF
The arrangement comes off the back of previous Appnovation and BGF operations in the region which will ensure the company’s continued support on-the-ground and the close collaboration between these two organisations.
“The first co-investment marks the deepening the relationship between BGF and CBGF, backing the growth ambitions of Appnovation both in the UK and Canada”.
Stephen Welton, CEO of BGF
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