Ascendant helps Staffcare raise £1 million

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Ascendant helps Staffcare raise £1 million

Ascendant today announces the completion of its 2nd successful transaction in the last 5 months bringing the total funds by Ascendant in this time to over £5m. Staffcare Limited (“Staffcare” or the “Company”), the fast-growing employee benefits software solutions company, today received a substantial investment by Herald Ventures II (“Herald”) which, together with a six figure investment by a private individual, brings the total funds raised by the company to £1 million. Ascendant advised Staffcare on this fund raising.

“This is a great triumph for Staffcare and is testament to the strength of the Company’s proposition that it was able to raise these funds against such difficult market conditions for venture capital” commented Stuart McKnight, Managing Director of Ascendant. “Staffcare now has the resources to exploit the market opportunity it has with Staffcare. We are delighted to have been able to contribute to the growing success of the Company.”

Phil Hollingdale, CEO of Staffcare, commented “Ascendant’s ability to get Staffcare in front of “quality” investors, like Herald, and manage the process for the Company were vital to the success of the fund raising. We have enjoyed working with them during the process and have been impressed by their approach and responsiveness. We look forward to working with them on more deals in the future”.

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