‘Budget’ public relations agency pr2go has received £263,000 from venture capital firm Midven to fund further expansion.

‘Budget’ public relations agency pr2go has received £263,000 from venture capital firm Midven.

The Birmingham-based PR company, which allows customers to pay one-off fees as low as £49.99 for services, was founded in 2009 by CEO James Hobday.

Hobday comments: ‘The investment will allow pr2go to fund future growth… our aim is to make PR accessible and affordable for companies of all sizes.’

The investment is the first by Midven from its recently launched £18 million Exceed Midlands Advantage Fund. The new fund is backed by Lloyds Development Capital, Advantage West Midlands and the European Regional Development Fund and can invest up to £750,000.

Tony Stott, chief executive of Midven, says: ‘Midven now manages five funds in total which aim to invest in SMEs and start-ups with high-growth potential. Pr2go is one such company and we look forward to a successful relationship with them.’

The Exceed Midlands Advantage Fund is managed by Midven’s Stott, and Surjit Kooner, the investment director for Exceed.