22 Dec 2017
St Helens based innovative logistics company DriverNet has received £50k of NPIF Funding from MSIF.
The 50,000 loan comes from the NPIF – BFS & MSIF Microfinance Fund, which is part of the Northern Powerhouse Investment Fund.
Founded in 2016 by creator Ant Chisnall, DriverNet is a mobile application that bridges the gap in connections and information between drivers, driver management and customers.
The business has received grant funding from Innovate UK of £68,000, in combination with £50,000 from MSIF. The finding is expected to fund a range of stuff including 4 new members’ of staff’s wages, new laptops and software.
Ant Chisnall, Founder and CEO of DriverNet, said: “We saw a gap in the quality and services provided to drivers by telematics systems, and also became aware that the majority of fleet operators can’t afford the systems. DriverNet is a low cost network that solves both of these problems.
“We are now about to embark on launching customer trials in the New Year and generate our first revenues shortly afterwards. Our aim to create a new online national network to connect any driver to a site in swift, safe and sustainable ways.
“Working with MSIF was great. We were given full guidance and advice throughout the process and the opportunity has allowed us to get our product closer to reaching the market and grow our team.”
The application, which is operated from an iPhone, allows the company to track the whereabouts of the driver and alert deports and customers when the driver is nearing the location. Currently, DriverNet employs 4 Members of staff which is expected to rise to 8 due to the investment.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.