Radio.co

Radio.co secures £300,000 loan



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Radio.co has received a £300,000 loan from a Northern Powerhouse Investment Fund managed by FW Capital (NPIF – FW Capital Debt Finance).

The Manchester-based technology company has created a streaming platform for radio stations that allows them to control and manage their channels via cloud-based software.

The funding will enable Radio.co to further expand its operations.

The company was founded in 2014 by tech entrepreneur James Mulvany (pictured above, centre), who previously set up Wavestreaming.com in 2004 when he was at university.

James set up Radio.co after investing in the creation of a bespoke product which incorporated streaming services.

The company currently employs 20 staff and around 3,500 radio stations use the platform – half of which are based in the USA.

“Investment is vital for us to take the company to the next level,” said James.

“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 business.

“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.”

Gavin Cowling, senior investment executive at FW Capital (pictured above, left), added: “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.”

Also pictured: Sue Barnard, senior manager at British Business Bank

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