YourFilm is exiting a five-figure investment from the North East Small Loan Fund Supported By The European Regional Development Fund ahead of schedule.
The Gateshead-based firm secured the investment through regional fund management firm NEL Fund Managers two years ago to support its plans to scale up its business development activity and attract more and larger clients from outside the region.
Matthew Newman said: “Our goal when bringing in the North East Fund investment was to use it to put the knowledge, capabilities and scale into the business that we felt we needed to achieve our ambitions, and it’s a position that we’ve been able to reach more quickly than we’d expected.
“We’d worked successfully with the Digital Sidekick team for a number of years and our expectations that we would be stronger together have been proven correct over the last year.
“Our goal for the next few years is to continue along this growth journey, work with more big-name clients from across the world, and have all the structures and capabilities in place that we think we’ll need by the middle of the decade to achieve our long-term commercial goals.”
Mark Wharton, senior portfolio executive at NEL Fund Managers, added: “YourFilm has made tremendous progress in a short period of time and is ready to move on to the next phase of its development.
“Investees exiting their investment relationships with us ahead of schedule is good news as it means that our growth capital is having the desired positive impact on their commercial performance, and we’ll be watching to see how YourFilm moves forward from here with great interest.”