Investment will fund innovation and global expansion strategy.
Global technology company, Turnkey Group Ltd. (“Turnkey”), has announced it has secured a £2.5m GBP cash injection from leading private equity firm, Maven Capital Partners (“Maven”), one of the UK’s most active investors in growing businesses.
Facilitated by corporate finance company, Ragnar Capital, the funding will accelerate a five-year growth plan, with the first round released in September 2022 and the second round set to be released in early 2023.
Established in 2015, Turnkey is a purpose-led environmental, social and governance (ESG) technology software and analytics platform. Turnkey’s technology platform supports company strategies beyond compliance; it provides detailed insights into company ESG performance in real time. This unique approach allows business leaders to use ESG data to make a real impact on the environment and advancements within the organization.
Based in London and Singapore, the company works with a multitude of organisations across the financial, investment and corporate sectors to help them aggregate, strategize, and report on their ESG data.
Utilising their innovative SaaS platform, Sustainion, Turnkey works with businesses to map performance against ESG frameworks and regulatory requirements, while highlighting opportunities to mitigate risk, boost operational efficiency and save costs.
The investment from Maven is a significant milestone for the company. The funds will be invested across three key areas: people, product and performance, and will enable future expansion plans. While a significant portion of Turnkey’s growth to date has been in Asia, the funding will fuel the company’s expansion across other regions, including Europe.
As well as growing their workforce and locations, the company has ambitions to scale their technology platform to ensure their solution stays at the forefront of innovation in a rapidly evolving market.
Tony Wines, Turnkey CEO and Founder of Turnkey, said: “Since our inception we have had backing from a number of small-medium sized investors, but this is the largest external investment we have ever had. Fundraising to this scale will have a significant impact on what we do next, enabling us to expand into new territories, support more organisations to make a real difference and invest heavily in our technology platform to ensure we’re always at the forefront of what we do.”
Gareth Price, Investment Director at Maven, said: “We are thrilled to be part of Turnkey’s journey as they look to geographically expand their offer and develop their technology. As a business, we are excited about investing in a forward-thinking, market leading ESG brand that has ambitious goals for a sustainable future.”
Dr Mustapha Omar, Director of Ragnar Capital, added: “We are proud to have played our part in helping Turnkey take the next step and look forward to continuing working with them on their growth plans.”
Stephen Kirk, Board Chair for Turnkey, said: “The Group CFO is based in the UK and there will be significant ongoing investment in developing the European side of the business. We’ll be focusing on our people, with ambitions to go from a twenty-strong team to over one hundred people working in the business, with a focus on innovation across all departments.”
Aurélie Zeller-Nahappan, COO of Turnkey, said: “Our technology platform is central to everything we do and enables us to work with our clients to make a positive difference for people and the planet. We’re going to be focusing on expanding the capabilities of the platform over the next few years, using this investment to dig deeper into benchmarking and predictive analytics.
Our robust platform can already manage complex organisational structures, reporting on multiple locations and centralising and analysing critical data. The platform eliminates the need for complicated spreadsheets, ensuring the integrity and accuracy of data through the entire supply chain, which is vital when it comes to avoiding greenwashing. By developing the product capabilities even further to predict future trends and meet strategic targets, we can work with our clients to make a bigger impact on a global scale, both now and in the future.”
