First investment for Seraphim

Seraphim Capital is to provide £1 million for Lancaster-based card payment services group G-T-P. The deal represents Seraphim’s first investment.


Seraphim Capital is to provide £1 million for Lancaster-based card payment services group G-T-P. The deal represents Seraphim’s first investment.

Seraphim Capital is to provide £1 million for Lancaster-based card payment services group G-T-P. The deal represents Seraphim’s first investment.

The company supplies white-labelled trade cards to B2B distribution businesses and service providers such as builders’ merchants, electrical distributors and retail chains.

Existing clients include York International, Floors-2-Go and Brandon Tool Hire. The new funding will allow the company to strengthen its sales, marketing and support operation in preparation for partnering the likes of York International in a pan-European roll-out of its trade card services.

G-T-P received financial advice from MBM Commercial, while Katalyst Ventures advised G-T-P’s management. Oglethorpe, Sturton & Gillibrand acted as the company’s solicitors.

Seraphim is a consortium of business angel networks and corporate venturers across the UK, led by GLE, which have joined forces to raise £10 million of private investment with £20 million of UK Government backing to manage one of the UK’s new Enterprise Capital Funds (ECF).

Seraphim was the first ECF to launch in September 2006.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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