Partnership Investment Finance

CICC World is a web-based interactive learning company with offices in Huddersfield and Manchester.

 

It produces high impact, media rich training programmes integrating the latest media broadcast technology. Their flagship product is a specialist receivables tracking, reporting and e-learning programme which helps solve the challenges and issues associated with the credit management process.

 

The company was established in 2003 by brothers Darren and Mark Allardyce and long term partner Jeremy Sims. They have won a very enviable client base in a relatively short time frame, including many household names such as Yorkshire Bank, PricewaterhouseCoopers, Ultimate Finance and British Gas.

 

Furthermore the company has won Institutional endorsement by private labelling its e-learning solution to the Institute of Credit Management which now provides online training and consultancy services to all members of the Institute, including HMRC, Shell and Orange via the learning portal www.icmos.org.uk.

 

Managing Director Darren Allardyce said: “With the Institute of Credit Management we have created a solid e-learning programme that delivers real bottom line benefits to our customers.

 

“Now that our model is proven in the credit sector, we are rapidly expanding our interactive learning services into similar vertical markets.”

 

While the company was keen to develop a presence in other finance related markets it was also keen to exploit new geographical markets. However, the scale of the CICC’s planned growth meant that it had a substantial funding requirement.

 

Darren Allardyce and his team approached Partnership Investment Finance which immediately saw the business potential of the CICC proposition and agreed to take an equity stake in the business for £500,000.

 

“The equity investment from Partnership Investment Finance will now allow us to expand the business into new geographical markets. We have already licenced our technology into the US market and are now able to exploit the opportunities to their full potential.”

 

Partnership Investment Finance Investment Manager Duncan Gray, said: “CICC World offered us a compelling business proposition. Since its launch four years ago the CICC World team have proven the company’s business model through their work with the Institute of Credit Management.

 

“PIF’s investment will now help support the company’s growth in to new markets providing it with the working capital required to expand overseas.”