A Cheshire consumer tech firm, which is backed by investors in the likes of THG and Sorted, has secured a £13m funding boost.
Tactus Group has agreed the package from Santander UK as it gears up for its next phase of growth in 2022.
The growth funding is the company’s third funding round in 2021, having previously raised £40m from Chrysalis Investments in August and a £12.5m investment led by Arete Capital Partners in April.
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Chrysalis Investments' portfolio includes businesses such as THG, Sorted and Secret Escapes.
Liverpool-headquartered Arete Capital Partners, which also has a stake in Manchester-based Sorted, also has interests in Peak and SysGroup.
Warrington-headquartered Tactus Group will use the new financing to invest in its people further, develop its technology platform and improve its operational capabilities.
Chief executive Scott Brenchley said: "As a scaling technology group, Tactus is committed to building a team of people who know the industry and move quickly to influence and transform our markets.
"We also recognise the need to drive innovation by consistently investing time, money, and ideas into developing the brands and platforms that we have created in order to revolutionise the way people buy and use tech.
"Ongoing support from partners and stakeholders is invaluable to making that a success, so this funding package from Santander UK will be crucial to the future of the business, and the people that make it."
Charlotte Lees, director, strategic debt solutions, Santander UK, added: "Tactus has grown exponentially over the past two years, and we’re delighted to help fuel its next growth phase through this funding package.
"Both acquisitive and growing organically, Tactus has a global footprint that’s highly complementary to Santander UK’s own, making us the ideal funding partner, and we look forward to working together over the years to come."
Phil Tarimo and Lynn Li from DSW Debt Advisory advised Tactus on the transaction, while Richard Capper and Beth Finnie from Hill Dickson provided legal advisory.
Martin O’Shea and Claire Dyer of Addleshaw Goddard advised Santander UK on the deal.
