The investment, made through the UK Government-backed Capital for Enterprise Fund, will support the company’s growth and development plans.
Commenting on the funding, Richard Arden, Finance Director at Documetric, said: “This investment will facilitate further organic growth by Documetric and is an attractive alternative to private equity”.
The company delivers payment processing, transactional and managed services in secure data management applications, finance and administration.
The £75m CfE Fund is a UK Government-backed initiative launched earlier in 2009 to help small and medium size enterprises (SMEs) gain access to the financial support required to bridge the funding gap caused by the credit crisis.
In April 2009, it was announced that £60m from the Fund would be allocated to two separate £30m funds, one of which is managed by Maven.
FinSMEs
21/10/2009