In a significant move for the superyacht sector, Voly, a fintech company based in Cheadle, has secured substantial investment to enhance its service offerings.
Founded in 2016 by former professional tennis player Ian Flanagan, Voly specialises in financial management software for the luxury yacht industry. With the newly acquired £2m funding from Palatine’s Growth Credit Fund, the firm is poised to acquire Voyonic, a specialist maritime payroll provider.
Strategic Acquisition
Voly’s acquisition of Voyonic marks a strategic expansion in its service portfolio. This move is not merely about growth but also about setting a new standard in the maritime industry. By integrating Voyonic’s multi-jurisdiction payroll services, Voly aims to enhance its platform’s capabilities, providing more comprehensive management solutions for superyacht owners and operators.
The acquisition is a testament to Voly’s commitment to innovation and excellence. According to Ian Flanagan, CEO of Voly, this deal will not only bolster their existing services but also pave the way for future developments, ensuring Voly’s position as a market leader in yacht management. “We have a very clear strategy at Voly Group,” Flanagan stated, emphasising their focus on creating the industry standard ERP solution for the yachting sector.
Flanagan added, “This acquisition is not just a business move; it’s a commitment to the future of the maritime industry, setting the stage for a new standard in payroll and crew management services. Voly Group is excited to lead this charge and continue its journey of innovation and excellence.”
The Role of Palatine Growth Credit Fund
The £2m loan from Palatine’s Growth Credit Fund is crucial for Voly’s ambitious plans. This funding is aimed at supporting high-growth companies in the English regions, particularly those demonstrating sustained double-digit year-on-year revenue growth.
Ryan Sorby, partner at Palatine Growth Credit, praised Voly’s unique product and impressive growth trajectory. He remarked, “Voly is a genuine market leader with a unique product, a highly impressive founder, and strong backing from its equity sponsors. Ian and his team have achieved very exciting growth to date and the acquisition of Voyonic adds yet more value to Voly’s best-in-class proposition.”
Enhancing Service Offerings
Voly’s financial management software is widely used in the international luxury yacht industry. The platform manages operational expenditure and maintenance, allowing yacht crew and owners to perform global transactions seamlessly.
With the integration of Voyonic’s payroll services, Voly is poised to offer a more robust and comprehensive solution to its clients. This enhancement is expected to elevate the overall user experience, making financial management more efficient and transparent for yacht operators.
The move underscores Voly’s dedication to continuous improvement and client satisfaction. By constantly seeking out and integrating best-in-class solutions, Voly aims to stay ahead in a competitive market.
Market Position
Voly’s acquisition of Voyonic establishes it as a formidable player in the superyacht financial management sector. The addition of specialised payroll capabilities sets Voly apart from its competitors, reinforcing its position as a leader in the industry.
This strategic move is expected to attract more clients to Voly’s platform, enhancing its market share and reputation. The integration of Voyonic’s services into Voly’s existing platform will create a more comprehensive and appealing offering for potential customers.
Moreover, the deal will likely stimulate further innovations within the company, driving continuous development and technological advancements in the yacht management space.
Future Prospects
Looking ahead, Voly’s strategic acquisition is set to bring long-term benefits. The company’s clear vision and robust strategy will likely lead to further expansions and innovations, maintaining its competitive edge in the superyacht sector.
With strong backing from investors and a dedicated leadership team, Voly is well-positioned to capitalise on new opportunities and drive growth. The integration of Voyonic is just one step in Voly’s broader strategy to deliver exceptional value to its clients.
Leadership and Vision
Ian Flanagan’s leadership has been instrumental in Voly’s success. His vision for the company encompasses not just growth, but also the establishment of industry standards and best practices.
Flanagan’s emphasis on innovation and quality is evident in all aspects of Voly’s operations. By continually seeking out and integrating leading solutions, he ensures that Voly remains at the forefront of the yacht management industry.
Conclusion
Voly’s acquisition of Voyonic, supported by a £2m loan from Palatine, represents a significant milestone for the fintech company. This strategic move enhances Voly’s service offerings and positions it as a leader in the superyacht financial management sector.
With a clear vision and strong leadership, Voly is set to continue its journey of innovation and excellence, providing unparalleled value to its clients in the maritime industry.
The strategic acquisition of Voyonic, backed by Palatine’s investment, marks a pivotal moment for Voly. The integration of specialised payroll services significantly enhances Voly’s platform, reinforcing its market-leading position.
Under the guidance of CEO Ian Flanagan, Voly is poised for continued growth and innovation, setting new standards in the superyacht financial management sector. Clients can expect a more comprehensive and efficient service, highlighting Voly’s commitment to excellence.
