North East Accelerator provides £120,000 for Deminos
Finance for Business North East Accelerator Fund, managed by Northstar Ventures, has provided £120,000 to HR outsourcing company Deminos in a third funding round.
The fresh capital will be used to expand Deminos' workforce and drive the company's growth.
The first two round of funding provided by the North East Accelerator Fund amounted to £100,000 and £75,000.
The North East Accelerator Fund is backed by the European Investment Bank and the European Regional Development Fund.
Company
Deminos is a Gateshead-based support services firm focusing on HR outsourcing and employment law consulting. Its services are geared towards small and medium-sized enterprises. Its 140-strong client base includes Toni&Guy, Aspers and Macbryde Homes.
The company operates offices in London, Leeds, Nottingham, Manchester, Bristol and Reading. It was founded by Neil and Louise Atkinson in 2007.
People
Rebecca Crawford, fund manager, led the deal on behalf of Northstar Ventures, which is managing the Finance for Business North East Accelerator Fund.
Advisers
Equity - Ward Hadaway (Legal).
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