Mon, 10 Jul 2023 | BUSINESS NEWS
Flight Story, a marketing agency founded by Dragon’s Den star Steven Bartlett (pictured above), has secured a debt facility from alternative finance provider ThinCats. The funding will be used to finance Flight Story's acquisitive growth plans, with the firm targeting agencies and marketing technology tools.
Flight Story, which is headquartered in London, with further offices in Manchester, New York and Los Angeles, was founded in late 2021. Since then, the company has acquired Mint Performance Marketing (which it has renamed Flight Performance) and PR agency R. Agency.
Since its founding, the company has also launched innovation arm Flight3 and Flight Deck, a tool that measures social media’ impact on stock prices.
After securing the funding from ThinCats, which provides SMEs with growth loans of between £1 million and £15 million, Flight Story has confirmed it is working on a new acquisition, which it expects to announce later this year, and is in “early discussions” over another acquisition.
Flight Story CEO Oliver Yonchev said: "With our ambitions, it’s critical our funding partner not only provides capital, but understands the requirements of a marketing business and can operate with agility and flexibility.”
"ThinCats displayed that through this process, and demonstrated a deep understanding of our business, both operationally and directionally. We’re truly thrilled to have them as a partner on our journey."
ThinCats has said it will provide Flight Story with “flexible capital” for its acquisitive growth plans and will “back their ambitious vision for the future.” James Osbiston, ThinCats’ Director of Business Development, said that Flight Story was “a business that is in the vanguard of digital change.”
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