Digital consultancy xDesign, has secured an ‘eight figure’ minority growth investment from Soho Square.
The deal, which was agreed for an undisclosed amount, will see Joe Tebbutt, principal at Soho Square, join the company’s board of directors.
With Soho Square’s investment and support, xDesign will now accelerate its expansion plans with a number of new office openings planned around the UK and internationally, focus on organic growth across its business, as well as enhance its operational structure and award-winning company culture.
This latest announcement comes off the back of a period of rapid growth for xDesign which in the last two months alone has launched a new cloud computing division and acquired innovation and design company CreateFuture, bolstering its market offering and further supporting clients on their journey to scale and grow.
Founded in 2010 by its CEO Euan Andrews, xDesign employs over 450 experts across the UK and has offices in Edinburgh and Leeds.
Its quality of service has built its reputation in the market as the partner of choice for major international and UK brands, including MoneySavingExpert, Yorkshire Building Society and the Flutter Entertainment group, providing them with the skills and end-to-end digital capabilities they need to accelerate their digital transformation ambitions.
Andrews remains the majority shareholder and will continue to lead the business as CEO, supported by a highly capable and broad management team with direct experience of building and quickly scaling digital consultancies.
Andrews, founder and CEO of xDesign, said: “To date, we’ve been a fiercely independent organisation, a fact that has enabled us to provide a truly award-winning experience for our clients and our talented team of people.
“In Soho Square, we now have an investor – and more importantly – a partner, that will help us amplify our mission to create a truly human-centric digital consultancy on a much bigger scale whilst maintaining the independent mindset that’s made us successful.
“We believe that technology itself can only take you so far, it’s the people behind our business that really make the difference for the clients we collaborate with – setting us apart from our competitors.
“With Joe, James and the Soho Square team now in our corner too, I’m really excited to see where we can take xDesign in the coming months and years, particularly given the current market appetite for digital transformation projects.”
Joe Tebbutt, principal at Soho Square, commented: “xDesign is a business that understands the true power of people to create great digital solutions that generate real positive change for clients and end users.
“As a result, Soho Square’s minority backing is a real investment in its talented team of people, its award-winning culture and its unfaltering reputation for quality service and delivery – something which has already helped it build a high-profile roster of clients. We’re delighted to now be a part of the xDesign story, and can’t wait to support it in accelerating its ambitious expansion plans.”
Soho Square Capital is an investment firm focused on providing flexible capital solutions, typically in the form of senior or preferred capital with minority equity stakes, to established and growing UK and European SMEs.
Headquartered in London, the firm is led by a highly experienced team that has been investing together for over 15 years, through many economic cycles and have the expertise and flexibility to invest up to £40 m in any given transaction, across the capital structure, from senior debt to equity.
The team works closely with business owners and management teams to structure innovative, bespoke financing solutions and offer enhanced portfolio company support.