£300k NPIF investment signals expansion for Radio.co
A fast growing technology company based in Manchester has
received a £300k loan from NPIF – FW Capital Debt Finance, to
support its further expansion.
Radio.co has developed a streaming platform for radio stations
allowing them to control and manage their channels through cloud
The company was set up in 2014 by tech entrepreneur James
Mulvany who launched his first company, Wavestreaming.com in 2004,
when he was still at university. The business resold a variety of
third party software solutions to radio stations but over time he
identified ways to improve what was on offer. He invested in
the development of a bespoke product which incorporated streaming
services and Radio.co was born.
Radio.co employs 20 staff and around 3500 radio stations use the
platform with around 50% of customers based in the USA.
Director James Mulvany said: “Investment
is vital for us to take the company to the next level. Having
always self-funded the business, I wasn’t sure what to expect but
I’ve had a great experience with FW Capital.
“A contact of mine had received investment from FW Capital for
his own business and highly recommended them. They were very
straightforward to deal with and I was impressed by their ability
to create a tailored package that suited the exact needs of our
“The funding will be used to develop new products and will
create around 10 jobs this year. We expect turnover to reach £5m
during the next three years.”
Senior Investment Executive at FW Capital, Gavin Cowling
said: “Radio.co is a really exciting business and a great
example of the burgeoning technology industry in the North West.
Companies in this sector often struggle to secure funding from
traditional sources because they have few tangible assets.
However we are actively investing in this area and want to
encourage more businesses like Radio.co to speak to us if they need
investment. We see lots of growth potential in the tech space and
are very pleased to be supporting James and his business.”
The Northern Powerhouse Investment Fund provides microloans,
debt and equity investments, ranging from £25,000 to £2m to help a
range of small and medium sized businesses to start up, scale up or
stay ahead. The Northern Powerhouse Investment Fund is
delivered by The British Business Bank.
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.