Palatine Growth Credit, which launched in 2024, began its relationship with the Cheadle-based company 12 months ago.
This increased funding package has been agreed to enable Voly to invest in AI capabilities, by expanding the current tech team, supporting further acquisitions and continued product development in the core business and the acquisitions already completed, such as that of maritime payroll provider Voyonic and digital crew management platform Go Sea Ltd.
Voly’s yacht management software is used across the international luxury yacht industry to manage operational expenditure, charter, maintenance and more recently payroll and HR services. It provides superyacht captains, crew, owners, management companies and family offices with the ability to conduct instant global transactions, backed by transparent, real-time reporting all looking at the same information providing one version of the truth a strapline given to Voly by the industry.
Founded in 2016 by former professional tennis player Ian Flanagan, Voly Group has rapidly grown to become the market- leading, multi-asset management platform for the yachting sector. It employs circa 175 staff at its HQ in Cheadle, Greater Manchester and locations across the UK and Europe. In 2021, Voly Group received private equity investment from Magenta Partners.
The Palatine Growth Credit Fund has been raised to support maturing, high growth companies in the UK regions which are seeing sustained double-digit year-on-year revenue growth.
Ryan Sorby, Partner at Palatine Growth Credit, said: “Voly has continued to grow and scale significantly since our initial investment in September 2024. The ongoing development of its best-in-class fintech platform, along with its recent acquisitions has further bolstered Voly’s offering to the maritime sector, consolidating its market leading position for software management for the yachting industry.
“As a fast-growing, regionally headquartered tech business in the North, with a top-class management team and VC-backing, Voly is a great fit with the Growth Credit Fund’s mission to support ambitious businesses outside of London with tailored growth capital.”
Voly Group CEO, Ian Flanagan added: “With the support of Palatine Growth Credit over the last 12 months, we’ve been able to maintain a fast rate of growth and further develop our industry leading software for the maritime sector.
“This new funding will enable us to tap into the brilliant tech talent available in the North by bringing in a new team to build out our AI capabilities along with bringing other modules to our clients. We’re excited to continue to innovate and grow further.”
The Palatine Growth Credit Fund supports companies in the cyber, fintech, SaaS, healthtech, medtech, AI and advanced manufacturing sectors in the technology ecosystems of the North, Midlands, South West, and the South East.
The fund sits alongside sustainably driven investor Palatine’s established Buyout and Impact private equity funds.
Palatine was advised on the deal by Anna Robson of Shoosmiths.
