Red Flag Alert, a credit risk data and risk intelligence firm based in Manchester, has bagged £4.5m in funding.
The round was led by Foresight and Uncapped. This financial injection underscores the trust and confidence these investors have in Red Flag Alert’s potential and the value it offers to its corporate customers.
Red Flag Alert offers an innovative software as a service (SaaS) platform providing modular business intelligence. It caters to compliance, prospecting, risk management, and financial health assessment needs for its rapidly growing corporate clientele. Their unique approach to data and risk intelligence sets them apart in the sector, resulting in robust customer loyalty.
The new funds are earmarked for an ambitious growth plan which includes continued investment in their product to deliver new functionalities for users. With the recent launch of their third-generation platform and an updated accuracy scorecard, Red Flag Alert aims to accelerate growth through improved user interfaces and functionalities.
Their revolutionary approach to customer service has been one of their most distinct strengths. The firm prides itself on being disruptive and challenging the status quo of the market, which has spurred significant growth.
Red Flag Alert’s managing director, Rich West, shared his perspective on the investment: “The data space is very fast-paced, and the demand is growing especially quickly. As disrupters in the industry, we find ourselves uniquely placed to meet the demands of our customers. This investment will help us to grow even larger to meet the expectations of our customers.”
Furthermore, Fiona Hatch, senior investment manager at Foresight, expressed her excitement about the future collaboration: “Red Flag Alert has built an impressive product and customer base. With our investment and support, the team will be in a great position to benefit from the potential market opportunities.”
This recent investment follows a pattern of steady growth for Red Flag Alert, which saw its team grow from 9 to 50 in the span of two years.
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