THE49

Our journey started in 2018 when founders Paul and Paul were raising capital for their second fintech startup. A partnership with a US insurance carrier provided the perfect testing ground for their theories on innovation at scale. Fast forward four years, with a growing team of 40 and a refined model, and The49 was born. As a venture builder, we continue to perfect the craft of unlocking business potential for companies, both large and small.

We're always evolving to meet the toughest challenges head-on. Our mission is clear: to transform bold ideas into scalable realities. Innovation isn’t just a buzzword for us—it’s the heart of our business. Whether we’re working with emerging entrepreneurs or established companies, we’re dedicated to creating a culture of excellence that pushes the boundaries of what's possible.

Led by two experienced Pauls—startup veterans and reformed corporate types—we’re committed to a shared vision of building better, bolder businesses. As we continue to grow, we invite investors to join us in this exciting journey of innovation, creating lasting impact and empowering the next generation of entrepreneurs to change the world.

Credit Commentary:
Based in West Sussex, The49 Ltd specialises in business and software development. Its services encompass digital ventures, tech builds, and marketing strategy. It derives revenue through monthly consultancy retainers along with occasional profit upsides through equity participation in its client’s businesses. The company was incorporated in 2022 and is jointly run by its two shareholders/directors, Paul O’Connor and Paul Anderson. It holds an Equifax report of D and has Detilly Ltd and Azimuth Insights Ltd as the holding companies. The two directors have ultimate ownership of the business.
Both the directors are providing a personal guarantee, which means should the business fail to repay the loan, we can turn to the guarantor (s) to cover any shortfall. Moreover, both the directors are homeowners with substantial equity, which whilst not directly charged in support of the proposed loan, does give strength to the personal guarantees they are providing in support of the proposed loan.
Looking at the financials, the turnover of the company for FY2024 (Year ended 30Th April 2024) jumped exponentially by 196% to stand at £4.1m (FY 2023: 1.4m), resulting in an Operating Profit of £103K (FY 2023: Net Loss of 45K). The Tangible Net Worth of the company stood at £43K (FY2023 -45K). The increase in turnover was a result of an increase in the contracts secured along with recurring income from monthly retainers. Subsequently, the company was further able to register a higher Turnover of £1.9m and an Operating Profit of £258K for 4M FY2025. The future revenue pipeline of the company looks healthy with monthly retainers set in place and some projects doing rounds at the initial stages. Whereas, the loss of £45K during FY 2023 was the result of an unexpected contract termination on short notice.
The company will utilise loan proceeds to increase the size of the business development team and hire additional staff to support the new projects and engagements that they have secured. The EBITDA of the company is sufficient to cover the proposed loan facility, and the bank statements remain well in credit.

Inflation Risk:
As per management, the49 Ltd business is geographically diversified and concentrated in sectors that tend to be resilient throughout economic cycles (for instance- a large part of clients are in the insurance sector, which is usually classified as acyclical).