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February 14, 2018
The Gosforth-based accountancy practice reported a bumper first quarter for fundraising activity across its clients.
Dealmakers at RMT Accountants & Business Advisors have notched up their most lucrative fundraising quarter in a number of years.
The Gosforth-based firm has already advised on over £6m of fundraising amongst its clients, including developmental, investment and acquisition capital.
RMT says the trend is now likely continue into the rest of the year as it eyes up £7m worth of fundraising currently in the pipeline.
Greg Bolton, head of Corporate Finance at RMT, suggested the range of funding sources which has fed the investments indicates a “widening and deepening” confidence across the North East economy.
As well as helping to secure investments from several of the Finance For Business North East initiative funds, RMT has also raised new capital from high net worth individuals, bank lenders and the hard-to-access grants sector.
Mr Bolton said: “We saw momentum and confidence building during the second half of 2014, and this has increased significantly in the first few months of the new year across a range of industry sectors.
“The widening range of sources of capital that are available is an important indicator of improving confidence right across the regional economy, and we’re seeing bank finance becoming a little easier to obtain than it’s been for many years.
“The outlook for the rest of 2015 seems very encouraging, and our aim is to continue to be the catalyst which enables clients to put their business development plans into action.”
Among RMT’s fundraising clients are Car-Ching, a car buying firm with branches across the North East.
The firm established operations in Darlington, Alnwick and Blyth as the first stage of its plans to set up 60 new offices across the UK in the next three years, a move set to create 75 jobs.
In March the firm aided Newcastle-based software firm Born Digital in securing grant funding for its ‘flo’ platform which is designed to help people with insomnia and has been assessed as even more clinically effective than face-to-face consultations.
RMT was named as Corporate Finance Advisory Team of the Year at the 2014 Insider North East Dealmakers Awards, a title it also picked up in 2012.