Maven funds inject £2m into Traceall

Maven has contributed £500,000 from its client funds, while the remaining £1.5m was provided in the form of a mezzanine loan from the Scottish Loan Fund (SLF), which is managed by the GP.

Following completion of the deal, the company will expand its business development and technical teams, enabling it to undertake larger scale projects.

The deal comes one week after Maven led a £2.75m round for IT security company Flow Communications.

Company
Headquartered in Glasgow and founded in 2000, Traceall provides data management software and sensors for the food and beverage industry. Its clients include Coca-Cola, Jamie Oliver Group and BT Global Services.

People
Julie Glenny is an investment director at Maven. Alan Steele is managing director at Traceall.

Advisers
Equity - Dempster Solutions (Financial due diligence); Brodies (Legal); Morisons Solicitors (Legal); Lockton (Insurance due diligence); Argyll Fenton (Management due diligence).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Maven Capital Partners