A fintech company in the superyacht sector has received a significant financial boost to support a key acquisition.
Voly, based in Cheadle, has secured a £2m loan from Palatine’s Growth Credit Fund, enabling the purchase of a specialist maritime payroll provider.
Voly’s Rise in the Superyacht Sector
Founded in 2016 by former professional tennis player Ian Flanagan, Voly has established a strong presence in the luxury yacht industry. The company’s financial management software facilitates operational expenditure and maintenance for yacht owners and crews, making global transactions seamless and instantaneous. With a growing team of 100 employees spread across Cheadle and Europe, Voly continues to thrive.
Strategic Acquisition of Voyonic
The recent £2m loan from Palatine’s Growth Credit Fund is aimed at Voly’s acquisition of Voyonic, a specialist maritime payroll provider. This acquisition will significantly enhance Voly’s service offerings, adding ‘multi-jurisdiction payroll capabilities’ to its platform. CEO Ian Flanagan stated, ‘With the support of the Palatine Growth Credit Fund, the acquisition and integration of Voyonic into Voly Group will create more benefits for superyacht owners, further cementing our position as the leading management platform in the sector.’
This strategic move is more than just a business transaction; it represents Voly’s commitment to innovation and excellence in the maritime industry. The integration of Voyonic is expected to set a new standard in payroll and crew management services.
Palatine’s Support and Vision
Palatine’s Growth Credit Fund focuses on supporting high-growth companies in the UK regions, aiming to back businesses experiencing sustained revenue growth. Voly is a prime example of such a company, with its unique product and impressive growth trajectory.
Ryan Sorby, partner at Palatine Growth Credit, remarked, ‘Voly is a genuine market leader with a unique product, a highly impressive founder, and strong backing from its equity sponsors. Ian and his team have achieved very exciting growth to date, and the acquisition of Voyonic adds yet more value to Voly’s best-in-class proposition.’
The loan from Palatine is expected to provide Voly with the necessary resources to continue its development and innovation within the luxury yacht industry.
Future Prospects for Voly
The acquisition of Voyonic is not just about expanding Voly’s capabilities but also about strengthening its market position. By incorporating Voyonic’s expertise in maritime payroll, Voly is poised to offer a more comprehensive suite of services to its clientele.
This move aligns with Voly’s strategy to become the market-leading ERP solution in the yachting sector. The company plans to continue building new products while also seeking out best-in-class solutions to integrate into its growing dashboard.
The future looks promising for Voly as it continues to innovate and expand its service offerings, ensuring that superyacht owners have access to the best financial management tools available.
Impact on the Superyacht Industry
Voly’s enhanced platform, bolstered by the acquisition of Voyonic, is expected to bring numerous benefits to the superyacht industry. The addition of multi-jurisdiction payroll capabilities will streamline operations for yacht owners and crews, making financial management more efficient.
This move by Voly could potentially set a new industry standard for financial management in the maritime sector. With its robust platform and innovative approach, Voly is well-positioned to lead the market. The acquisition signifies a major step forward in the evolution of financial services for the luxury yacht industry.
CEO’s Vision for Growth
Ian Flanagan, CEO of Voly, has a clear vision for the company’s future. He aims to create the industry standard ERP solution for the yachting industry, combining continual product development with strategic acquisitions.
‘We have a very clear strategy at Voly Group to create the market-leading and industry-standard ERP solution in the yachting industry, which will always involve building new product but we are always on the constant lookout for best-in-class solutions also that we can buy and integrate to our growing dashboard and Voyonic is just that,’ Flanagan noted.
Commitment to Innovation
Voly’s journey of innovation and excellence is exemplified by its strategic acquisitions and continual product enhancements. The company’s dedication to improving its platform ensures that it remains at the forefront of the superyacht fintech industry.
The £2m funding from Palatine’s Growth Credit Fund marks a significant milestone for Voly as it continues to innovate and expand in the superyacht sector.
With the acquisition of Voyonic, Voly is set to enhance its service offerings, providing even greater value to its clients and setting new standards in the maritime industry.
