An innovative provider of integrated accountancy software has secured a £250,000 South West Investment Fund (SWIF) loan.
Based at Exeter Science Park, Joiin provides low cost fintech solutions that integrate seamlessly with accountancy software to create consolidated and group reports for businesses.
By automating this process, Joiin’s platform not only saves time but also enhances accuracy by eliminating human error and offering multi-currency reporting capabilities.
The company has already experienced rapid expansion, boasting an impressive year-on-year growth rate of 89% in 2024 and is now serving thousands of customers across more than 100 countries.
The South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help small and medium sized businesses to start up, scale up or stay ahead.
Lucien Wynn, chief executive of Joiin, said: “This South West Investment Fund loan will enable us to hire new staff members in roles that are crucial for our continued growth and commitment to providing top-tier solutions for our clients. It is great to be working with a funder who understands this and is prepared to invest in our future potential. We look forward to working with the FSE team on this journey.”
Clare Lenihan-Thomas, investment manager at The FSE Group, commented: “Joiin’s established product, strong reputation, and impressive market traction make them a standout in the fintech space. We believe in their vision and are confident this funding will help accelerate their expansion, ultimately enabling them to take advantage of further global opportunities including in Australia and the US.”
Jody Tableporter director of nations and regions investment funds, at the British Business Bank said: “”Joiin is a great example of an innovative business in the fintech sector that is leveraging the South West Investment Fund to drive growth and expand their market presence.
“By providing critical financial support, the Fund is not only enabling Joiin to scale its operations and create new job opportunities, but is also contributing to the broader economic development of the South West region.”
The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The South West Investment Fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.
