Finance Birmingham invests £700,000 in Chrysalis Solmotive

Finance Birmingham invests £700,000 in Chrysalis Solmotive

Midlands software firm Chrysalis Solmotive has secured a £700,000 funding package from Finance Birmingham as it looks to double its headcount.

The funding will help the Oldbury-based automotive software firm create 32 new jobs and pursue its international expansion plans across North America, Europe and Australia.

Jolyon Barker, managing director of Chrysalis Solmotive, said: “Chrysalis Global has always aimed to help its clients develop robust and sustainable processes.

“With this new investment from Finance Birmingham, we will be able to continue to expand our business and invest in enhancing our software that we know will exceed clients’ expectations.”

The funding has been provided by Finance Birmingham as part of the £56m Mezzanine Fund – open to SMEs across the West Midlands and supported by the Regional Growth Fund. 

Stephen Murray, investment director at Finance Birmingham, added: “Customer retention is a big challenge for most businesses and Chrysalis has built a reputation for providing software that delivers simple and effective solutions in this area, helping to unlock greater profitability.

“Finance Birmingham aims to support businesses with their growth plans and Chrysalis Global is a prime example of an ambitious company with great track record – and great potential.”

Hawkins Hatton LLP, Andrew Ritson Solicitors and BSN Chartered Accountants advised on the deal.