Browne Jacobson advises Mercia Ventures on funding of major digital commerce brand

Browne Jacobson has advised Mercia Ventures in leading a £2m investment funding round into a digital commerce pioneer that is planning for further international growth and innovation.

The UK and Ireland law firm supported the funding round to back Shopblocks, which has now rebranded to Symphony Commerce following the transaction.

In the funding round, Mercia Ventures invested from the Northern Powerhouse Investment Fund II, alongside Greater Manchester Combined Authority, private investors and Mercia’s own funds.

It will enable Symphony Commerce to expand its presence in the global B2B enterprise market and further enhance its platform with new features and integrations.

The Browne Jacobson team comprised partner Ryan Brown and associate Daniel Knowles.

Ryan Brown, Partner at Browne Jacobson, said: “As one of the leading investors in the venture capital market, Mercia Ventures shares our core value of backing ambition and we’re proud to have advised the team on another investment.”

Mercia Ventures – part of Mercia Asset Management plc – is a leading venture capital investor making equity investments of up to £10m across all sectors, with specialisms in software, consumer, healthcare and deep tech.

Symphony Commerce, founded in 2015, has developed a platform that enables wholesalers, distributors and manufacturers to create tailored e-commerce websites, customer portals and product catalogues.

The platform is used by more than 2,000 customers – including Toshiba, Giacom, Daisy Telecom and Tower Housewares – to manage complex customer pricing strategies, tailored discount and personalised experiences across extensive customer bases. It integrates with leading enterprise resource planning (ERP), finance and marketing systems to ensure businesses can unify their operations.  

Robert Hornby, of Mercia Ventures, added: “Symphony Commerce solves a number of complex challenges for B2B companies that other platforms are unable to deal with. As a result, it is rapidly building its customer base in the B2B sector and has the potential to become a leader in its field. With a new brand and fresh investment, we believe the right foundations are in place to help the business pursue this goal.

“We valued Browne Jacobson’s support with this round in the same way we did with our initial investment into the business. It understands the venture capital market, which makes it much more efficient to get transactions over the line. We look forward to working with the team in the future.”

The UK and Ireland Venture Capital and High Growth team at Browne Jacobson stands out for its expertise in advising investors and expanding, innovative companies on their domestic and cross-border venture capital and angel-led financing rounds, supporting clients from the initial investment to the exit stage.

The team has specialisms and insights across a range of sectors, including FinTech, InsurTech, CleanTech, HealthTech, AgriTech, Automotive, Advanced Manufacturing, and Retail and Consumer.

The team has recently advised on significant transactions, including Mercia Ventures’ investment in SkillTech startup TalentMapper, and Sure Valley Ventures’ funding round for the Irish Technology company Inspeq AI.