A Stockport-based travel company known for its deep expertise in South East Asia, has secured £50k from NPIF II – GC Business Finance & River Capital Smaller Loans, which is managed by the consortium as part of the Northern Powerhouse Investment Fund II
The funding will support Asia Travel Specialist ATS as it expands its operations and further develops its innovative platform for the UK travel trade.
With strong connections across Asia, ATS partners with UK travel agents, offering unrivalled knowledge and years of personal experience stemming from the time its founder, Andy Carroll, spent living in Vietnam.
ATS also provides exclusive access to market-leading rates in South East Asia, with its services providing luxury tour operators with bespoke packages and insights, supporting them in offering exceptional travel experiences to their clients.
The business is currently in the testing stages of a new platform designed to make it easier for UK travel agents to create and customise travel packages for clients. The platform will streamline the current process, allowing agents to build packages quickly and efficiently, whilst still having access to expert advice and support from ATS.
Feedback from the testing stage will be used to perfect the system, ensuring it meets the needs of both agents and customers.
ATS currently employs four staff members and, after securing NPIF II funding, plans to create six new roles in the North West over the next year. The business is committed to supporting the local community, offering remote work opportunities and a work culture that promotes positive wellbeing and a brilliant work-life balance.
Last year, the revenue of the business reached £1m and with the support of NPIF II, ATS is set to continue growing. The development of its new platform will be more efficient for all parties, allowing ATS to continue expanding its operations and better serve its clients.
Andy Carroll, founder of Asia Travel Specialist, said: “We’ve always had strong connections to Asia, especially Vietnam, and the expertise we’ve built over the years gives us an advantage in the market. The NPIF II funding from GCBF will really help us to develop our new platform, supporting us as we scale our business and better serve our clients. We’re also excited to use this opportunity to grow our team, creating more jobs and supporting local talent. Small businesses need more support now than ever, and this funding will be a huge help for us.”
Joanne Barlow, investment manager at GC Business Finance, said: “Asia Travel Specialist is a prime example of a business with huge potential and a clear vision for growth. We’re proud to have supported Andy throughout his journey of securing NPIF II funding, which will help him to develop his platform, leading to a better experience for his clients. His strong market knowledge, and his commitment to job creation, makes the business a valuable asset to the region.”
Sue Barnard, senior investment manager at the British Business Bank, said: “It’s amazing to see the positive impact of NPIF II funding on businesses like Asia Travel Specialist. Its innovative approach to what they do positions them well to achieve significant growth all from a North West base. The NPIF II funding will also help Andy to create job opportunities in the region – it’s really rewarding to support businesses with such a clear commitment to growth and local employment.”
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
