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19 December 2017

SIB investment in Curo Compensation

SIB investment in Curo Compensation: SE landscape logo cmyk

The Scottish Investment Bank (SIB) has completed a follow-on investment of £300k into existing portfolio company Curo Compensation Ltd.

The Scottish Investment Bank (SIB) completed a follow-on investment of £300k into existing portfolio company Curo Compensation Ltd on 15th December 2017 alongside £300k from co-investment partner Downing LLP. The £1.88m funding round was led by new investor Maven Capital Partners who invested £1.2m and supplemented by a further £80k raised from London & Scottish Investment Partners.

Curo Compensation is a SaaS business providing software for calculation of employee compensation, optimum mix of salary and incentive payments and accurate communication with employees. This new funding will support ongoing working capital requirements and the hiring of additional headcount. This will support and accelerate the continued development and commercialisation of the company’s CuroCompV4, in turn taking the company to forecast profitability in 2020.

About the Scottish Investment Bank

The Scottish Investment Bank (SIB) is the investment arm of Scotland’s main economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of co- investment funds including the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF), and the Renewable Energy Investment Fund on behalf of the Scottish Government. SIB is also an investor in Epidarex Capital’s life sciences fund and is a participant in the Scottish European Growth Co-Investment Programme funded by the Scottish Growth Scheme alongside the European Investment Fund. SIB provides a team of Financial Readinessspecialists to help companies prepare for new investment and access appropriate finance. SIB’s activities support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital.

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Scottish Enterprise is Scotland's main economic development agency and aims to deliver a significant, lasting effect on the Scottish economy. Our role is to help identify and exploit the best opportunities for economic growth. We support ambitious Scottish companies to compete within the global marketplace and help build Scotland's globally competitive sectors. We also work with a range of partners in the public and private sectors to attract new investment to Scotland and to help create a world-class business environment.

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