Global data intelligence service, VesselsValue, is driving forward its expansion plans after securing a £4m funding package from Lombard.
Headquartered on the Isle of Wight, the business launched more than a decade ago to provide insights and analysis on the maritime markets. In October 2021 it diversified with the introduction of VV Aviation, to offer valuation and transaction intelligence for commercial passenger aircrafts.
Growth ambitions in aviation sector
The funding package from Lombard will support VesselsValue‘s growth ambitions in the aviation sector, as it looks to invest in new data, technology and services, and expand to cover other module and aircraft types including business jets, freighters and helicopters.
The firm tracks more than 77,000 vessels and currently has 36,000 aircrafts on its platform providing its 850 international customers with an up-to-date overview of the market, risks and opportunities.
Growth to date
Initially focused on the provision of valuation data intelligence solutions for ships, the company has expanded to cover offshore, passenger ships and superyachts. It has also scaled up its data options in recent years to include transaction, tracking and mapping, trade activity, energy efficiency and emission measurements.
The investment from Lombard follows a significant period of growth for the business, which saw revenues increase by 29 per cent to £10m and profits of £2.2m in 2021. This momentum was maintained throughout the 2021/22 tax year, with revenue predicted to reach £12.8m.
Nine offices Worldwide
Founded in 2011 by CEO Richard Rivlin, the group employs over 200 staff across nine offices located in the Isle of Wight, London, Stoke-on-Trent, Singapore, Manila, Seoul, HongKong, Shanghai and Oslo.
It estimates half its customers are financial services including lenders, investors, underwriters and brokers, while around one-third are asset owners or operators.
Parker: Will allow us to cross-sell opportunities
Toby Parker, Head of Finance at VesselsValue, said,
“Expanding and diversifying our business within the aviation space will allow us to cross-sell opportunities to our maritime base of financial services and professional services customers, and open new target markets such as aircraft owners and operators.
“We are committed to providing our clients with objective and transparent market intelligence in new and innovative ways. The funding from Lombard will be crucial for us to achieve our growth objectives and the service we have received has been exemplary.”
Skuse: We understand business-critical assets
Yan Skuse, Relationship Director, Technology Specialist Sales at Lombard, said,
“Working with VesselsValue and seeing the businesses appetite to scale and to disrupt markets through innovation is exciting and fulfilling.
“As an Asset Finance provider, we understand business-critical assets and in the case of VesselsValue, this is their software. Our expertise in this asset class allows us to release capital that has been tied up in its intellectual property, helping VesselsValue accelerate its growth plans. We are glad to assist the business as it embarks on this continued period of significant growth and look forward to seeing its ambitious plans come to fruition.”
Willis: A fantastic business based on the Isle of Wight
Matt Willis, NatWest Senior Relationship Manager, said,
“VesselsValue is a fantastic business based on the Isle of Wight.
“They are on an upward trajectory, and we are delighted to help support this local business’s ambitious growth plans through Lombard Intellectual Property Funding (IPF) whilst further developing their banking relationship with the NatWest Group.”
News shared by Daisy on behalf of VesselsValue. Ed
Image: Images Money under CC BY 2.0
