A fintech business specialising in working in the superyacht sector has secured a £2m funding package to support a key acquisition. Cheadle-based Voly has agreed a £2m loan from Palatine’s Growth Credit Fund that includes funding for its takeover of specialist maritime payroll provider Voyonic Voly’s financial management software is used in the international luxury yacht industry to manage operational expenditure and maintenance, allowing yacht crew and owners to carry out global transactions instantly. The company was founded in 2016 by and now employs 100 staff in Cheadle and across Europe.
It in 2021. CEO Mr Flanagan says the deal will allow Voly to acquire Voyonic, adding “multi-jurisdiction payroll capabilities” to its business, and will also support the ongoing development of its platform. He said: “With the support of the Palatine Growth Credit Fund, the acquisition and integration of Voyonic into Voly Group will create more benefits for superyacht owners, further cementing our position as the leading management platform in the sector.
We have a very clear strategy at Voly Group to create the market leading and industry standard ERP solution in the yachting industry which will always involve building new product but we are always on the constant look for best in class solutions also that we can buy and integrate to our growing dashboard and Voyonic is just that.” “This acquisition is not just a business move; it’s a commitment to the future of the mar.