Alternative finance provider ThinCats has offered substantial growth funding to BGF-backed lead generation technology firm Firstborn Group, bolstering its expansion plans in the UK and Nordic markets.
Manchester-based Firstborn Group, established in 2017 by Robin and Mattias Kaneteg, connects consumers with financial service providers.
The company, previously known as ROI Media, has been backed by BGF since 2020 and has since pursued an aggressive buy-and-build strategy.
The funding will enable Firstborn Group to capitalise on its extensive database of over half a million customers by targeting them directly via SMS and email, offering a wide variety of financial services.
The company’s revenue in this channel has already doubled in the past year, rising from 30% to 60%. Firstborn Group also plans to continue its successful buy-and-build strategy, following the integration of four acquisitions since 2020.
Firstborn Group expressed enthusiasm for the partnership, stating: “We have already experienced outstanding growth as our customers have seen success in generating quality leads from working with us.
“With the investment from ThinCats and the backing from our partners at BGF, we will continue to invest in our product development and improve the service we offer to our customers as we continue our growth across Europe.”
Dave Parr, director business development, ThinCats, said: “It’s fantastic supporting ambitious and growing businesses like Firstborn Group. Management has a clear vision for the future and are implementing an already highly successful growth strategy. Together with the backing of BGF, the business is well positioned to capitalise on a fragmented market in the digital market sectors.”
Pinesh Mehta, investor at BGF, added: “Firstborn Group continues to go from strength-to-strength as the team delivers against its European growth plans. This latest partnership will galvanise product development and support new strategic acquisitions which have been identified.”
