Tech firm gets stuck in with seven-figure Santander growth capital facility
- B2B data software solution provider, Stickee – producer of data and market insights – has received a seven-figure growth capital facility, from Santander UK
Stickee is forecasting a 25% Year-on-Year growth from 2023 to 2024 with the help of its new growth capital fund.
Santander UK is helping Solihull-based company Stickee, to grow and expand its product offering with a multi-million pound growth capital facility.
Stickee is a creative technology business, primarily focused on the development of innovative software and data insights which help its customers succeed on and off the web.
The growth capital package provided by Santander will ensure that the company’s rapid growth is adequately supported as it will allow them to continue to invest in proprietary software through the use of emerging technologies such AI and Machine Learning.
Stickee has experienced unprecedented growth over the past three years, and its team has trebled in size. From 2023 to 2024, the business has forecasted a 25% year-on-year growth. It is also expecting its workforce to increase further as it wins new contracts, with its new growth capital facility enabling faster growth.
Stickee’s core Magpie solution is used by global brand owners to monitor the way that third party retailers sell their products online in more than 50 countries. The business also provides the software and systems which power online price comparison websites for a number of well known operators in this sector. The launch of the Magpie solution in 2010 allowed the business to provide a fully managed and customised analysis suite. The continuous development of this solution into Magpie DBX has allowed the business to experience significant growth through delivery of the software to globally recognised brands, assisting them in managing and enhancing their digital brand experiences.
Bobbie Bhogal, Director at Stickee said: “Unlike other traditional banks which favour bricks and mortar investments only, Santander has understood the role of the technology and software and their high growth potential. The team’s friendly approach, willingness to engage and their efficient follow through is something I have not experienced with any other banks.
“At Stickee we needed to continue to invest in our proprietary software and to also invest in AI and Machine Learning to ensure that we take full advantage of emerging technologies, and the support from Santander will enable us to do so.”
Simon Clewlow, Growth Capital Director at Santander UK, said: “We are delighted to be able to support Stickee with a seven-figure growth capital package, having worked closely with the company over the course of the last few months. The firm’s growth so far is testament to the uniqueness of its service offering and the huge value its proprietary technology generates for its high-profile customer base. We look forward to supporting Stickee through the next phase of its growth story.”
Emmet Keating, Partner at Headpoint, commented: “Stickee is a leading software provider delivering high value market insights and data to its global blue chip customer base. Through its ongoing investment in artificial intelligence to enhance its proprietary technology, the business is well positioned to grow its recurring revenue and capitalise on its significant growth potential. ”
Stickee were advised by Headpoint, Claritas, Freeths and Finance 4 Business, whilst Santander were advised by Browne Jacobson, Cooper Parry and Drystone Strategy.
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