Two North West companies secure £1.6m Investment Fund boost

Two North West companies have secured a combined £1.6m in investment from the Greater Manchester Combined Authority (GMCA), paving the way for the creation of 117 new jobs in the region.

Accrington-based network marketing firm Kleeneze, which retails household and beauty products via a network of independent distributors, has received a £1.2m loan to build a warehousing and distribution facility in Rochdale.

When it opens, the centre will create 100 employment opportunities.

Meanwhile Salford-based Optimise Hiring, which provides a digital management platform for recruitment businesses, was awarded an investment of £375k from the (GMCA) alongside private investment from tech investor Paul Sweeney.

Optimise Hiring will use the six-figure boost to fuel its expansion plans and take on 17 new members of staff.

Both investments were provided through the Greater Manchester Investment Fund (GMIF), which offers debt and equity investments of between £500k and £5m to the region’s growing businesses.

Cllr Kieran Quinn, GMCA’s Lead Member for Investment and Finance, said: “These show that the Combined Authority has become a vital player in the commercial finance market.

“More and more firms are looking to us to support their growth plans and of course we are only too happy to assist in the creation of more jobs and prosperity in the region.”

Kleeneze MD Michael Khatkar commented: “We are absolutely delighted, after being resident in the North-West for almost a decade now and in business for 93 years to be creating substantial employment opportunities in the Greater Manchester area.

“Our £1.2m loan from GMIF not only allows us to further expand our business but it will create lifelong business associations in the area.”

He added: “We are proud of our business and proud to be creating solid futures for many people.”

Optimise Hiring’s co-founder and CEO, Murali Goluguri, said: “We are thrilled to have received this investment which we see as a massive vote of confidence in our product and the team.

“This gives us the opportunity to really drive forward our business plan and sets us well on the way to becoming the UK’s ‘go-to’ platform for any business wishing to hire staff.”

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