North East England based FinTech Growth Capital Ventures has raised £1mn.
In Brief:
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The County Durham based firm is an investor network and innovation lab.
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The funding has come from institutional investors through Finance Durham.
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It will be used for GCV’s venture builder unit, G-Labs.
What does this mean?
The fresh funds will allow G-Labs to support 30 high-growth startups. Co-Founder and COO Craig Peterson commented that the investment will enable the firm to hire more people and expand its venture building arm, with the aim to support UK tech startups.
