Altrincham-based Digital Rewards Group (DRG) has secured "significant" investment from private equity firm Maven Capital Partners.
DRG, which has 28 staff, provides access to exclusive discounts and experiences through its Kids Pass platform, and also owns and operates other digital platforms including Global Hotel Pass and DaysOut.com.
The investment will be used to support DRG’s expansion, strengthening its technology, data and product propositions whilst accelerating growth in the US market.
Led by Group CEO Andrew Kilmartin and UK CEO Dave Clayton, DRG has experienced significant growth in recent years.
The investment was led by Ryan Bevington and Jeremy Thompson, Partners in Maven’s Manchester office, with ThinCats providing senior debt funding for the transaction alongside the Maven investment.
Former PerkBox CEO Gautam Sahgal and Andrew Gunson have joined DRG’s board as non-executive Chairman and chief financial officer, respectively.
Andrew and Gautam will support the existing senior team in the next phase of growth.
Ryan Bevington, Partner at Maven, said: “We are delighted to have completed our investment into Digital Rewards Group, a fast-growing, highly scalable, technology-driven business.
"The company operates in a resilient market with a large addressable audience and clear international expansion potential."
Andrew Kilmartin, Group CEO at Digital Rewards Group, added: "We are excited to have brought Maven on board for the next stage of our growth journey.
"We worked closely with our financial advisers to choose an investor with a common set of values and experience of helping high growth digital businesses accelerate their growth plans, particularly with our expansion internationally.
"We have ambitious plans for this next phase and look forward to delivering our objectives alongside the Maven team.”
