Digital consultancy xDesign has secured minority growth investment from investment firm Soho Square Capital.
The deal, which was agreed for an undisclosed amount, will see Soho Square principal Joe Tebbutt join the board of directors.
The Edinburgh-headquartered business will now accelerate its expansion plans, with a number of new office openings planned around the UK and internationally, as well as enhancing its operational structure.
During the last two months, xDesign has launched a new cloud computing division and acquired design company CreateFuture.
Founded in 2010 by its chief executive Euan Andrews, xDesign employs more than 450 staff across the UK, with offices in Edinburgh and Leeds. Its digital transformation clients include MoneySavingExpert, Yorkshire Building Society and the Flutter Entertainment group.
Andrews remains the majority shareholder and will continue to lead the business.
He commented: “To date, we’ve been a fiercely independent organisation, a fact that has enabled us to provide a truly award-winning experience for our clients and our talented team of people.
“In Soho Square, we now have an investor - and more importantly - a partner, that will help us amplify our mission to create a truly human-centric digital consultancy on a much bigger scale, whilst maintaining the independent mindset that’s made us successful.
“We believe that technology itself can only take you so far, it’s the people behind our business that really make the difference for the clients we collaborate with - setting us apart from our competitors,“ Andrews continued. “With Joe, James and the Soho Square team now in our corner too, I’m really excited to see where we can take xDesign in the coming months and years, particularly given the current market appetite for digital transformation projects.”
Tebbutt added: “xDesign is a business that understands the true power of people to create great digital solutions that generate real positive change for clients and end users.
“As a result, Soho Square’s minority backing is a real investment in its talented team of people, its award-winning culture and its unfaltering reputation for quality service and delivery - something which has already helped it build a high-profile roster of clients.”
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