Digital consultancy xDesign, has secured a ‘eight-figure’ minority investment from Soho Square Capital LLP, an investment firm focused on financing established and growing SMEs, with investments typically between £15m-£40m.
The deal will see Joe Tebbutt, principal at Soho Square, join the company’s board of directors.
With Soho Square’s investment and support, xDesign will now accelerate its expansion plans with a number of new office openings planned around the UK and internationally, focus on organic growth across its business, as well as enhance its operational structure and award-winning company culture.
This latest announcement comes off the back of a period of rapid growth for xDesign which in the last two months alone has launched a new cloud computing division and acquired innovation and design company CreateFuture, bolstering its market offering and further supporting clients on their journey to scale and grow.
Founded in 2010 by its CEO Euan Andrews, xDesign employs over 450 experts across the UK and has offices in Leeds and Edinburgh. Its quality of service has built its reputation in the market as the partner of choice for major international and UK brands, including MoneySavingExpert, Yorkshire Building Society and the Flutter Entertainment group, providing them with the skills and end-to-end digital capabilities they need to accelerate their digital transformation ambitions.
Andrews remains the majority shareholder and will continue as CEO, supported by a highly capable and broad management team with direct experience of building and quickly scaling digital consultancies.
Andrews said: “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. 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. We’re delighted to now be a part of the xDesign story, and can’t wait to support it in accelerating its ambitious expansion plans.”
