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VesselsvvaluelogoIsle of Wight-based Global data intelligence service, VesselsValue, is driving forward its expansion plans after securing a £4million funding package from Lombard.

Headquartered in Ryde, the business launched more than a decade ago to provide insights and analysis on the maritime markets. It opened offices in Ryde in 2014. In October 2021, it diversified with the introduction of VV Aviation, to offer valuation and transaction intelligence for commercial passenger aircrafts.

The funding package from Lombard will support VesselsValue‘s growth ambitions in the aviation sector, as it looks to invest in new data, technology and services, and expand to cover other module and aircraft types including business jets, freighters and helicopters.

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The firm tracks more than 77,000 vessels and currently has 36,000 aircrafts on its platform providing its 850 international customers with an up-to-date overview of the market, risks and opportunities.

Initially focused on the provision of valuation data intelligence solutions for ships, the company has expanded to cover offshore, passenger ships and superyachts. It has also scaled up its data options in recent years to include transaction, tracking and mapping, trade activity, energy efficiency and emission measurements.

The investment from Lombard follows a significant period of growth for the business, which saw revenues increase by 29% to £10million and profits of £2.2million in 2021. This momentum was maintained throughout the 2021/22 tax year, with revenue predicted to reach £12.8million.

Founded in 2011 by CEO Richard Rivlin, the group employs over 200 staff across 9 offices located on the Isle of Wight and in London, Stoke-on-Trent, Singapore, Manila, Seoul, Hong Kong, Shanghai and Oslo.

Toby Parker, Head of Finance at VesselsValue, said:

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“Expanding and diversifying our business within the aviation space will allow us to cross-sell opportunities to our maritime base of financial services and professional services customers, and open new target markets such as aircraft owners and operators.

“We are committed to providing our clients with objective and transparent market intelligence in new and innovative ways. The funding from Lombard will be crucial for us to achieve our growth objectives and the service we have received has been exemplary.”

Yan Skuse, Relationship Director, Technology Specialist Sales at Lombard, said:

“Working with VesselsValue and seeing the businesses appetite to scale and to disrupt markets through innovation is exciting and fulfilling.

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“As an Asset Finance provider, we understand business-critical assets and in the case of VesselsValue, this is their software. Our expertise in this asset class allows us to release capital that has been tied up in its intellectual property, helping VesselsValue accelerate its growth plans. We are glad to assist the business as it embarks on this continued period of significant growth and look forward to seeing its ambitious plans come to fruition.”

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