Jumpstart, an Edinburgh, Scotland, UK-based company that supports UK businesses in making HMRC Research and Development (R&D) Tax Relief claims, received a £3.4m investment from Business Growth Fund (BGF).
BGF took a minority stake in Jumpstart and Patrick Graham, one of its Senior Investment Managers, joined the board.
The company will use the proceeds to further grow across the UK through the expansion of its in-house sales, marketing and delivery functions and a strengthening of the management team.
In addition to the transaction, Jim Faulds (the current Chairman of Change Recruitment and WRG Creative Communication) joined the board as Chairman while David Evans (the former UK Senior Partner at accountancy and business advisory firm Mazars) joined as Non-Executive Director.
Founded in 2008 by Stuart Wyse, Don Galloway and Richard Edwards, who were joined in 2010 by Brian Williamson, the company’s current MD, Jumpstart provides companies with a claim R&D Tax Relief service. Its client base include over 500 companies across all regions of the UK, with a current order book exceeding £10mm.