The funding was organised by the Coalfields Enterprise Fund.

Based in Barnsley, Student Resources specialises in promoting colleges and training organisations to gain recognition from work-based funding initiatives.

Preston-based EV funds companies in the North of England and the Midlands. It manages funds such as RisingStars Growth Fund II, which recently invested £600,000 into software company Yuuguu. Investment director Wayne Thomas says: “EV completed an in-depth commercial review of the market opportunity, which was very supportive of management’s views and the potential for the business.

“We are very confident that Student Resource’s success will bring considerable benefit to the local area.”

Coalfields Enterprise Fund was set up by the Deputy Prime Minister in 2004 to support business growth in England’s former coalfields.