Forward Partners Grp - £1m investment in Hospitality Management Platform
12/01/2023 07:00
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RNS Number : 4467M Forward Partners Group PLC 12 January 2023
Forward Partners Group plc
("Forward Partners" or "the Group")
£1.0m investment into Hospitality Management Platform, Dines
Forward Partners Group plc (LSE: FWD), the London-based investment firm
specialising in supporting high-growth, early-stage technology businesses,
announces that it has made a £1.0m investment into Dines, a hospitality
management platform.
Forwards Partners led the £1.6m seed round, investing £1.0m alongside
Ascension and existing investors.
Dines (https://dines.co.uk (https://dines.co.uk/) ) is a hospitality
management platform. The company - dubbed as 'The Hospitality Operating
System' - enables businesses to run their operations through a single,
powerful, omnichannel platform. It has proven to unlock significant cost
savings and better customer experiences. Clients include the Delfont
Mackintosh Theatres estate across the London West End, the Underbelly Group
which runs large-scale events including the Edinburgh Fringe Festival, and the
Shard's skyline bar and viewing gallery.
The company will use the funds to continue its expansion across the UK.
Nic Brisbourne, CEO at Forward Partners, commented: "We're excited to announce
our new investment into Dines, adding a company which is revolutionising the
way that hospitality businesses operate to our portfolio.
The hotels, restaurants, theatres, pubs and festivals that power this industry
not only deliver experiences that enrich people's lives, but they also
contribute massively to UK economy. Despite this, they are under severe margin
pressure and highly sensitive to changes in consumer spending. To succeed,
they need to optimise every aspect of their business - from marketing to
booking, ordering to payroll - but solutions are few and far between.
Dines exists to help these businesses thrive. Their disruptive product
provides a 'one-stop shop' for hospitality operations and has been shown to
improve top and bottom lines whilst boosting service levels. We've seen the
industry take notice and look forward to seeing how the team use this
investment round to grow their product and customer base."
ENDS
Enquiries
Forward Partners Group plc via H/Advisors Maitland
Nic Brisbourne, Chief Executive Officer
Liberum Capital Limited Tel: +44 20 3100 2222
(Nominated Adviser and Broker)
Neil Patel
Lauren Kettle
Cara Murphy
H/Advisors Maitland forwardpartners@h-advisors.global
(Financial PR) Tel: +44 (0) 207 379 5151
Sam Turvey
Alistair de Kare-Silver
About Forward Partners
Founded in 2013, Forward Partners is an established and respected London-based
venture capital firm, specialising in supporting high growth, early-stage
technology businesses in the UK.
The Group brings together venture capital provider Forward Ventures and highly
specialised growth support from Forward Studio. This model supports founders
to build stronger businesses faster to provide better outcomes for companies
and investors alike.
The Group makes equity investments in early-stage, high-growth UK companies,
and from inception to its admission to London's AIM market in July 2021 had
made over 60 unique investments and built a portfolio with an Initial
Portfolio NAV in excess of £100m. It holds a nine-year track record of making
venture capital investments, and targets underlying NAV growth of 20% per
annum over the cycle.
The management team brings together highly experienced venture capitalists,
entrepreneurs, and expert consultants. Since 2015, Forward Partners has been
backed by BlackRock, one of the largest institutional investors in the world.
The Group receives over 4,000 start-up funding applications every year.
For more information, visit https://forwardpartners.com
(https://forwardpartners.com)
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