JMW advises Cheshire-based Voly on investment deal

Law firm JMW Solicitors has advised Cheshire Fintech firm, Voly, on its investment deal with Magenta Partners, the SME growth investor.

Voly, based in Cheadle, is a fast-growing multi-asset management and payment solution provider to the yachting industry, media sector and family offices.

Founded by former tennis pro, Ian Flanagan, the business has invested heavily in its software and support capabilities, securing circa 50% year-on-year growth. Originally launched for the yachting industry, it now also serves the media industry and private clients.

The deal underlines Magenta’s strategy of backing high-growth, niche businesses with strong prospects and exceptional management teams. Its investment in Voly is the sixth of its latest fund, which targets equity investments of £5m - £20m.

Ian Flanagan, Founder and CEO of Voly, said: “Magenta’s investment is testament to the amazing growth story of our business over the last 24 months - from industry challenger to clear market leader in yachting, successful entry into the asset management space for the ultra high net worth family office client and the first steps into new verticals.”

“Alongside Magenta and our incoming Chairman, Simon Morse, we have ambitious plans - commencing with several exciting upgrades to our technology alongside a substantial investment in sales and marketing and the opening of several new offices.

“I’d like to thank the Voly team for their exceptional commitment and hard work and, as a team, we look forward to this exciting next chapter of growth.”

Mike Blood, Partner and Head of Corporate at JMW, said: “We’ve worked with Voly for over five years so we’re pleased to have been able to support Ian and his team as the business enters this next chapter. It’s a fantastic business that has seen extremely strong growth - despite the pandemic - and we look forward to supporting the team as it accelerates its growth strategy and continues to expand.”

Tom Matthews, partner of Magenta, said: “We are delighted to be investing in Voly. Ian and his dedicated team have built a market leading solution with great growth potential. The yachting industry is large and unpenetrated, and we are equally excited about Voly’s fast start in the conterminous sectors of media and family offices. Further module releases over the coming 12 months will reinforce Voly’s outstanding proposition to those core markets and provide a superb platform for rapid expansion. We will also be on the lookout for interesting acquisition opportunities as the business scales.”

Voly was advised by Mike Blood and Emma Hickman at JMW. Magenta was advised by Marc Field at Addleshaw Goddard, and Philip Quigley at Smith and Williamson.

NAUTILUS - Image credit Alexis Andrews (6).jpg

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