Initially, NPIF – Maven Equity Finance, managed by Maven Fund Managers, invested £1.2 million in My Digital. This crucial funding enabled My Digital to significantly scale its operations, doubling its headcount, developing a range of innovative FinTech products, and enhancing its marketing efforts. Since then, My Digital has become a market-leading provider of payroll and accounting software in the temporary labour industry, recognised for the quality of its products and service levels. The company’s success is evidenced by multiple industry awards, including winning The Contracting Awards for Best Payroll Software for two consecutive years, and a ranking in the Top 50 the fastest-growing tech companies at the Northern Tech Awards for four consecutive years.

John Whelan, CEO of My Digital, said, “This management buyout is a testament to the hard work and dedication of our entire team and the unwavering support from Maven and NPIF. Special thanks to Gavin Bell, who saw potential in our vision, and Karen DeMeza, whose operational guidance was invaluable. Our company has not only achieved but surpassed our expectations thanks to their support at a crucial time.”

Ryan Bevington, Partner at Maven, added, “We are thrilled to see My Digital transition into this new phase of ownership. The management buyout is a testament to the company’s strong leadership and solid financial foundation, which were developed under our partnership. This is indeed a success story for NPIF, providing a shining example for future investments.”

About My Digital

My Digital offers a cloud-based software suite encompassing payroll, and accounting, tailored specifically for umbrella companies, accountancy practices, and staffing agencies operating in the temporary workforce sector. The platform is recognised for rich functionality, seamless integrations, robust security, and scalability, enabling rapid and compliant payroll processing. Over the past nine years, My Digital has been honed into the preferred software solution in the umbrella payroll space, enhancing all aspects of payroll operations while reducing operational costs. The platform boasts numerous distinctive features designed to assist payroll firms and staffing agencies in providing a flawless gross-to-net experience for the assignment-based supply chain.

About Maven

Maven is a leading private equity and property management firm, established in 2009 following a management buyout from Aberdeen Asset Management PLC. With a robust team of over 100 executives spread across our extensive UK office network, we partner with entrepreneurial management teams to foster rapid growth. Maven serves thousands of investors, consistently aiming to deliver exceptional returns.

Since its inception, Maven has become one of the UK’s most active investors in small and medium-sized enterprises (SMEs), supporting hundreds of management teams in realising their business goals. 2021, Maven joined forces with Mattioli Woods PLC, a prominent provider of specialist wealth management and financial planning services.