Investment fund BGF, formerly known as the Business Growth Fund, has invested £11 million to acquire a minority stake in digital technology company AND Digital.
AND Digital helps large enterprises accelerate their digital capabilities and its clients include British Airways, Gousto, NBrown Group and IAG Cargo.
It was established in 2014 and now employs over 600 people and generates an annual turnover of £42 million.
AND Digital has offices, which it calls clubs, across the UK and the funding from BGF will be used to open further new clubs in the UK and internationally.
Paramjit Uppal, Founder of AND Digital, said: “AND has been on a massive growth journey since our start-up days in 2014. We’ve built a truly remarkable company, based on a unique club model, which has accelerated our clients’ digital capabilities and helped to grow tech talent throughout the UK. BGF is a perfect partner for us and, throughout our discussions, has shown its deep belief in our business with a mindset that allows us to now get on with it.”
Alex Snodgrass, an investor at BGF who will join the board of AND Digital, added: “AND Digital is a fantastic business, with a truly innovative and scalable approach to delivering technology services of the highest quality. Paramjit and the team have built an excellent track record in the market through working with some of the UK’s biggest enterprises.”
