Manchester cloud business reaches for the sky with loan from NPIF
Manchester-based cloud and DevOps consultancy Steamhaus Ltd is
expanding and creating 15 new jobs following an investment from the
Northern Powerhouse Investment Fund (NPIF).
NPIF – FW Capital Debt Finance, managed by FW Capital, has
backed the company with a £175,000 cash injection.
Established by Managing Director Daniel Keighron-Foster in 2015
and now employing 12 people, Steamhaus has achieved rapid growth
and expects turnover to exceed £1m in 2018. This has been driven by
key client wins including VR Solutions company, Immerse, and
employee rewards service, Perkbox. Steamhaus specialises in
working with tech startups, digital and creative agencies, online
retailers, and high traffic sites.
Keighron-Foster said: “Working with FW Capital has been seamless
– they quickly understood our business and the potential it has.
This funding will allow us to take on key sales and technical staff
to provide exceptional service to our growing customer base.”
Commenting on the loan, Gavin Cowling, Senior Investment
Executive at FW Capital said: “The Steamhaus team has many years of
experience in the sector and an outstanding track record of
achievement. The growth of the business to date has been impressive
and we are pleased to support the continuation of this with our
Grant Peggie, Director at British Business Bank, said:
“Supporting new and growing businesses to help drive economic
growth is a key objective of the Northern Powerhouse Investment
This investment offers a great solution for a smaller business
looking to grow and will support job creation in the Manchester
region as Steamhaus continues to expand. We look forward to seeing
to how the business develops over the coming years.”
Operating from the British Business Bank’s Sheffield head
office, the Northern Powerhouse Investment Fund provides a mix of
debt and equity funding (£25,000 to £2m). It works alongside 10
Local Enterprise Partnerships (LEPs), the combined authorities and
Growth Hubs, as well as local accountants, fund managers and banks,
to support Northern-based SMEs at all stages of their
The Northern Powerhouse Investment Fund project is supported
financially by the European Union using funding from the European
Regional Development Fund (ERDF) as part of the European Structural
and Investment Funds Growth Programme 2014-2020 and the European
For more information about Northern Powerhouse Investment Fund,
please visit www.npif.co.uk.