Tagtronics to accelerate growth after funding boost

Darwen-based Tagtronics has secured six-figure funding from the Enterprise Ventures SME Loans to support the acquisition of a London-based company.

The £550,000 loan is being used as part of a package to finance the £1m-plus acquisition of a software as a service (SaaS) business that complements Tagtronics’ growth model and enables them to serve a larger customer base.

Tagtronics has previously appointed Dave Roberts as a non-executive director to support the development of the company’s strategic plan. Mike Williams, managing director of Tagtronics, said: “This is a brilliant opportunity to invest in a business that we can develop using a similar model to that which has paid dividends with Tagtronics, we really look forward to working with the new business."