A County Durham tech firm is looking to overseas markets after sealing a five-figure investment deal.
Digital Edge, based in Newton Aycliffe, specialises in the Wix web platform and provides digital marketing services, including web design, marketing solutions and software solutions, and has a particular specialism in utilising the Wix Velo web development platform.
Now the company, which also has a satellite office in Gloucestershire, has secured a £50,000 investment from the North East Small Loan Fund.
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The management team will use the five-figure investment to boost its business development and marketing activity around its new Wix Blocks software solution, as well as others that are currently in development. Digital Edge is also one of the first firms to work on the newly-released Wix Blocks software solution and is helping to lead its adoption by clients around the world.
Digital Edge was set up in 2021 after the merger of two digital consultancies which offered complementary services and expertise. It now has an eight-strong team, which is expected to grow as the new solution enters new markets, and is aiming to reach an annual turnover of £500,000 this year.
The business was introduced to NEL Fund Managers by Allan Jeff, innovation and growth specialist at RTC North.
Ian Proctor, sales director at Digital Edge, said: “We’re seeing growing numbers of new business opportunities coming in not just from North East England, but from right around the world, including from Spain, France, the US, Canada, UAE, Singapore and Australasia. After the introduction from RTC North, we had amazing support from the NEL team to complete the investment process and we’ve now got the resources in place to grow the business quickly.”
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Jonathan Armitage, investment executive at NEL Fund Managers, said: “The expertise that Digital Edge has brought to bear on a significant market opportunity is already bearing fruit and we’re excited at the potential for growth that the business is now set to start realising.”
Part of the £130m North East Fund and aimed predominantly at smaller SMEs, the £9m North East Small Loan Fund typically offers loans of up to £100,000 to businesses in Tyne & Wear, Durham and Northumberland. It is designed to assist with the creation of over 1,200 new regional jobs in more than 320 SMEs over the life of the fund.
The overarching £120m North East Fund will provide financial support for more than 600 businesses, creating around 2,500 jobs and delivering a legacy of up to £80m for further investment into the region.