VAR gets £2m funding boost for Northern expansion plans

Reseller snares largest ever single investment from Northern Powerhouse Investment Fund

Microsoft Dynamics reseller Azzure IT will receive £2m in funding to drive its expansion plans, including an increased headcount.

The Sheffield-based firm has gained the funds from the Northern Powerhouse Investment Fund (NPIF) and it marks the single largest investment since the fund was launched last February.

The NPIF combines £400m of funding from the UK government, European Regional Development Fund, British Business Bank and European Investment Bank to help businesses in the region to scale up.

Azzure stated that the funds will be used to "strengthen its management team, recruit additional implementation consultants and expand sales and marketing operations". Overall this will create around 12 new jobs over the year ahead.

Founded in 2011 by Craig and Sharon Such, Azzure IT has grown to employ 57 people so far.

"Azzure IT's success is due to its focus on service, quality and the ability to deliver real-world solutions to meet its clients' challenges," said Will Clark, joint fund manager of NPIF - Mercia Equity Finance.

"Founded in the last economic downturn, the company itself used technology to take on emerging market challenges and to thrive and grow.

"Its goal is to support other growing businesses to achieve digital transformation. The funding will allow the business to scale up to meet growing demand and create 12 new jobs in Yorkshire."

Ken Cooper, managing director at British Business Bank, said providing investment for companies such as Azzure was the aim of the NPIF when it was launched last year.

"This deal, which is the largest to date, highlights the range of support provided by our fund managers and demonstrates the existence of potentially world-beating companies in Sheffield. The fund will be supporting many other similar opportunities across the Northern Powerhouse region," he added.