MMC Ventures invests £1.8m in Interactive Investor PLC
MMC Ventures have invested £1.8 million in Interactive Investor
PLC. Interactive Investor is an online retail stock broker and
personal finance media company.
MMC Ventures (MMC), the growth company investor, has invested
£1.8 million in Interactive Investor Plc (Interactive
Investor). The online retail stock broker and personal
finance media company offers individuals information and technology
to manage their own investments through two channels; online,
through Interactive Investor (www.iii.co.uk) and Shareprice.co.uk and
offline, through financial magazines Moneywise and Money
Observer. MMC is taking a significant minority stake in the
business. Interactive Investor has revenues of £14
million.
Jon Coker,
investment director at MMC Ventures comments:
"The retail brokerage market has experienced
exponential growth and we expect that to continue as an increasing
number of people take more control over their own savings and
investments and regulatory changes put pressure on
commissions. Over the last decade advances in technology have
brought powerful investment tools to individual investors at lower
prices. This business has grown organically at over 20 per
cent per annum benefiting from the market turbulence of the last
few years. MMC's investment will allow Interactive Investor
to fund several development projects that should continue its
impressive growth rate and make it an even more attractive
business."
Interactive Investor is based in London and employs 81
people. Through its websites, mobile applications and
magazines, it is a leading source of market information and
commentary and also offers discussion boards where private
investors can share their views. Beyond market data, the
websites offer access to a range of personal investment accounts
(share dealing, ISA, SIPPs) where products including shares, funds
and derivatives can be traded. The sites generate 1.5 million
unique visitors per month. Moneywise and Money Observer
magazine each have a circulation of 20,000.
Tomas Carruthers, CEO of Interactive Investor comments:
"This investment recognises the progress Interactive
Investor has made in the last six years and the unique success we
have had in delivering news, information and trading services that
directly reflect the requirements of self directed investors. We
are now well positioned to up the pace of our development, to
ensure we can continue to respond to private investor requirements
by offering enhanced web services and an increased range of mobile
applications to further grow our customer base."
Advisors: GP Bullhound advised the company and made an
investment from its GP Bullhound Sidecar fund.
