NVM invests £4m in Hello Soda

Kenny Wastell
02 November 2017

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NVM Private Equity has invested ТЃ4m in UK-based data analytics software business Hello Soda.

The deal sees the VCT fund manager acquire a minority stake in the company as part of an expansion deal, a spokesperson for NVM told unquote".

The fresh capital will enable Hello Soda to undertake an international expansion strategy and invest in marketing activity.

The transaction is NVM's sixth investment of 2017, according to unquote" data, and comes six weeks after the GP joined Downing in a £6.2m investment in e-commerce technology company Volo Commerce.

Debt
Clydesdale and Yorkshire Bank provided a £1.5m venture debt facility to support the transaction.

Company
Headquartered in Manchester and founded in 2013, Hello Soda is a big data and text analytics software company focusing on ID verification, fraud detection, risk, and personalisation of user experience.

Hello Soda has additional operations in the US and Thailand, and serves customers across six continents.

People
NVM Private Equity – Liam May (investment manager).
Hello Soda – James Blake (CEO, founder).

Advisers
Equity – Pinsent Masons, Kieran Toal, Tom Shorten (legal); Grant Thornton (financial due diligence); Intechnica (IT due diligence); Practical Management Solutions and Insights (commercial due diligence); The Quinn Partnership (management due diligence); Aon (insurance due diligence).
Company – Hill Dickinson, Rhian Hughes, Sean Lightfoot, Alasdair Mackinnon (legal); Dow Schofield Watts, David Smith, Keith Benson, Peter Barkley (corporate finance).