NatWest has extended its first mass market Intellectual Property-backed loan to UK software company Sci-Net.
The new High Growth IP Loan from NatWest has been developed with specialist IP valuers Inngot to help unlock the funding gap for high growth firms.
Loans start from amounts as low as £250,000 against up to 50% of the value of the firm’s intellectual property - software, patents, copyrights, trademarks and registered designs - as determined by Inngot’s tailored systems and processes.
Founded in 1998, Sci-Net has already established partnerships with multiple tech giants and businesses across the retail, ecommerce-retail and distribution industries. The business aims to use the new funding to support the ongoing development of its ERP>Retail and its ERP>Trade software, which helps customers run their entire business operations.
Neil Bellamy, head of technology, media and telecoms at NatWest Group, says: "With this loan, we have shown the potential that unlocking value from IP and intangible assets could have for UK economy, by helping firms to scale, create high value jobs and boost UK productivity.”