Palatine has increased its support for Manchester-based, high growth fintech business Voly Group with a new facility.
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.
