Web-based interactive learning company CICC World has secured a £500,000 investment from Partnership Investment Finance (PIF).

Web-based interactive learning company CICC World has secured a £500,000 investment from Partnership Investment Finance (PIF).

The firm, with offices in Manchester and Huddersfield, provides high impact, media rich training programmes integrating the latest broadcast media technology.

Legal advice to the equity provider was sought from Keeble Hawson, led by corporate partner Rachel Neems. PIF is a long-standing client of Keeble Hawson.

Neems said: “The company is led by a strong management team and now that they have the backing of PIF I am sure they will go from strength to strength.”

CICC World’s corporate finance adviser was McInnes Corporate Finance from the Manchester office, led by Jeff Barber and Emma Hargreaves. Andrew Francey and Dan McCormack at Leeds law firm Lupton Fawcett also provided advice.

Barber said: “This is a very strong management team with ambitious plans who we look forward to working with further in the future.”

Francey added: “CICC World is advancing the boundaries of e-learning. The investment finance provided by PIF will enable the business to implement its ambitious plans for future growth.”

PIF investment manager Duncan Gray said: “CICC World offered us a compelling business proposition. Since its launch four years ago the CICC World team have proven the company’s business model through their work with the Institute of Credit Management.

“PIF’s investment will now help support the company’s growth in to new markets providing it with the working capital to expand overseas.”

CICC was established in 2003 by brothers Darren and Mark Allardyce and partner Jeremy Sims. The firm includes Yorkshire Bank, PwC, Ultimate Finance and British Gas amongst its clients.

Its flagship product is a specialist receivables tracking, reporting and e-learning programme which helps solve the challenges and issues associated with the credit management process.