Politics

Newcastle’s Venture Stream taps into £750,000 investment to accelerate online marketplace

A Newcastle virtual company is launching a web based market to lend a hand freelancers in finding paintings at the again of a £750,000 funding bundle.

Founded in 2014 by means of Vic Morgan, the e-commerce and virtual advertising and marketing trade has grown its turnover, consumer base and body of workers and now has a crew of 27 staff managing greater than 60 accounts throughout a spread of sectors.

The Newcastle town centre primarily based trade, which ultimate 12 months moved its personnel to a four-day week to present them a greater work-life stability, has tapped into the funding from the North of Tyne Culture and Creative Investment Programme and Creative UK’s landmark Creative Growth Finance fund.

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Delivered in partnership with the North of Tyne Combined Authority, the North of Tyne Culture and Creative Investment Programme provides first of its type monetary and trade give a boost to to these running within the cultural and inventive industries in North Tyneside, Northumberland and Newcastle.

The corporate stated that Creative UK’s funding will allow it to boost up the expansion of its consulting trade and release a web based market to lend a hand best freelancers in finding paintings.

Mr Morgan, founder and CEO of Venture Stream, stated: “It’s great to have Creative UK on board as a strategic investor, supporting Venture Stream’s award-winning ecommerce and digital marketing business. With their support, we’re now able to expand our commitment to people-first strategies, including our four-day work week initiative and creating work for ecommerce and digital marketing freelancers globally through our new Flow marketplace platform.

“Our team has always been at the heart of our business, and we look forward to continuing our journey with the financial support of Creative UK, one of the leading backers of talent and innovation in the creative and digital economy.”

Caroline Norbury, leader government, Creative UK, stated: “Venture Stream is a fantastic example of the type of creative business we want to invest in – one with not only a strong growth story and market performance, but also a clear commitment to their Environmental, Social and Governance responsibilities. We are particularly delighted that part of Creative UK’s investment is drawn from the North of Tyne Culture and Creative Investment Programme, with the growth and success of Venture Stream primed to generate high-quality employment opportunities within the North of Tyne region’s creative economy.”

Carol Bell, strategic engagement lead for the North of Tyne at Creative UK, stated: “We are very pleased to be investing in Venture Stream, a brilliant North East business that promises to create high-quality opportunities within the North of Tyne region. We have no doubt that with our support they will continue to enhance the creative and digital eco system of the area, setting an example that we hope similar businesses in the region will follow.”

The North of Tyne Culture and Creative Investment Programme is making an investment over £2m on behalf of the North of Tyne Combined Authority thru mortgage and fairness financing. Creative Growth Finance is a consultant investor devoted to the Creative Industries, co-funded by means of Triodos Bank.



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