Shawbrook Bank has provided data firm DueDil with a £3.5m Growth Capital facility to help fund the company’s ambitious growth plans.
DueDil’s API and web platform provide their clients with data and information about potential new clients, enabling them to grow at pace. DueDil uses proprietary matching technology to link billions of company data points from authoritative sources, providing unique insight through its Business Information Graph. Companies leverage this information to build their go to market strategy and create a seamless customer onboarding journey.
The London-based firm works with more than 400 companies across financial services, fintech and technology sectors, including big brands such as Transferwise, Santander, Growth Street & Paymentsense.
It plans to use the £3.5m Growth Capital facility from Shawbrook to support its growth plans as they continue to partner with businesses in the UK, Ireland and Europe.
DueDil is backed by a number of top tier investors including Augmentum Capital, Oak Investment Partners and Notion Capital
Carolyn Branco, vice president of Marketing, DueDil, says:
“DueDil has grown rapidly and now serves over 400 clients. Growing this fast requires not just the vision and determination of our people but the support of our investors as we continue to scale-up. Now the Growth Capital facility from Shawbrook also gives us additional fuel to continue building the brand, the product and the infrastructure we need. We’re moving into an exciting new phase.”
Will Chappel, director, Growth Capital at Shawbrook, says:
“I’ve known about DueDil for some time and have been impressed by what they can offer to their clients. They have a great leadership team, smart people and a very clear vision of where they want to be over the next few years. So it’s a genuine delight to work with them and to welcome them to Shawbrook
“The UK technology scene is thriving and there are a growing number of businesses like DueDil disrupting markets or even creating new ones. Whilst enjoying the support of great investors and generating real revenues, it’s still very likely that many of these will need debt finance at some point to fund the next stage of their growth. To these companies we simply say: come talk to us.”