Maven injects £500,000 into Rekoop

The company will use the fresh capital to further expand throughout the UK and the EU, widen its customer base and hire 10 more people.

Rekoop closed its seed funding round in March 2014, raising an initial £500,000. 

The Greater Manchester Loan Fund, managed by Maven, provides businesses in the Greater Manchester region with mezzanine loans between £100,000-500,000. It focuses on small and medium-sized businesses and had invested roughly £5m as of mid-2015.

Company
Founded in 2010 and based in Manchester, Rekoop offers cloud-based time-keeping software to legal professionals. The company has customers in 40 countries and its client list includes DLA, Eversheds and Simmons & Simmons.

People
David Wright is an investment manager at Maven. Phil Wedgwood is the CEO of Rekoop.

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• Topics
• UK / Ireland
• Expansion
• Technology
• United Kingdom
• Mezzanine