The Business Growth Fund has made its first investment, funding the UK rewards and benefits company Benefex.
The Business Growth Fund (BGF), set up by five major UK banking groups to stimulate business in the country, made its first investment yesterday, in online reward and benefits firm Benefex. The sum invested was £4.2m ($6.5m).
Benefex works with more than 500 clients, helping them to provide structured reward and benefits schemes for its employees online. Benefex expects revenues to approach £10m in 2012 as it grows, and will use the investment from BGF to expand into the US…
