Northcoders uses IP as collateral to help secure £1.5m finance facility via NatWest’s IP-backed finance loan
7 Apr 2025
Manchester-based AIM-listed tech training company Northcoders has secured a £1.5m finance facility from NatWest, including a £1m IP-backed finance loan facilitated by Inngot’s online IP tools.
Northcoders is using the NatWest facility in part to refinance an existing £400,000 three year loan from Creative England at significantly better rates – a fixed rate of 3.5% above base compared to 11% previously.
A further £1m loan has been secured over four years against the company’s core intellectual property at a fixed rate of 2.5% above base. This element of the facility will be used to support the next stage of the company’s growth as it continues to diversify its revenue streams.
NatWest Group launched its revolutionary High Growth IP-backed loan in January 2024. Designed specifically for growing SMEs with valuable intellectual property (IP) assets and developed jointly with IP valuation specialists Inngot, the proposition aims to address the long-standing challenges faced by innovative businesses in securing debt financing by allowing them to use the value of their IP as collateral.
NatWest asks potential borrowers to use Inngot’s tools for IP identification, valuation and collateral suitability checking as part of the loan application process.
Northcoders plans to use the new funding to launch a brand new B2C Training Bootcamp course focusing on AI and Machine Learning. In development for the past year, the new course covers the principles of Data Engineering, Machine Learning, Cloud Technologies and the Engineering at the heart of AI language models. A fully online course lasting 14 weeks, it will start on 16 June 2025.
Charlotte Prior, Northcoder’s Chief Financial Officer, was first introduced to the NatWest IP-backed loan proposition by NatWest’s Neil Brophy, a Senior Relationship Manager specialising in Tech, Media and Telecoms for firms in the North West of England, in April 2024.
Charlotte says: “When Neil first told me about this IP loan, I thought it sounded amazing – but we weren’t looking to get a loan at that point. We were working through our growth model.”
Six months later, with growth plans fully developed, Charlotte reconnected with Neil Brophy. “In November 2024, with the plans for the new course in progress, it made sense to contact Neil again and explore the IP loan.” Charlotte registered on the Inngot site in early January 2025, and the loan documents were signed in early March, so the whole process took three months.
Charlotte says that the Inngot tools “were quite self-explanatory. There were some bits where we needed a little bit of extra help and we were introduced to a contact at Inngot early in the process. As an AIM-listed company we had all the financials and forecasts the Inngot system asked for, and there was excellent support from Inngot’s team when we did have any queries.”
She admits: “Identifying revenue purely from the IP we wanted to borrow against was a new concept for us, but once we had done it, it made us really proud when we saw how much that IP was worth.”
Obviously, NatWest is specifically interested in the IP a loan applicant has: Northcoders has audited accounts and financial forecasts, but she recalls “it wasn't like we were updating full company forecasts. We were updating the forecast revenue that derived from those pieces of tech and from the IP. The challenge was to separate the value and revenue they drive.”
As a result, she adds, “it definitely got us thinking about the importance of the IP and it made us feel proud of what we've put together completely internally over the last few years and what value that now has going forwards.”
Charlotte observes: “Tech companies like us don’t usually own hard assets like warehouses, offices and vehicle fleets; our main asset is our IP. I must admit, when we started discussing it, I never thought we’d be able to get any kind of meaningful loan secured against our IP. But when I went through the Inngot tools, I was really pleasantly surprised by the valuation.”
The challenge for a company such as Northcoders is that current accounting regulations mean its investment in its own internally-generated IP and intangibles only appears as a cost; the balance sheet cannot reflect the real revenue this IP is delivering.
Inngot’s platform can identify which IP is delivering real value, quantify that value, and help a lender decide whether it is strong enough to be used as collateral.
Since successfully applying for the NatWest High Growth IP-backed loan, Charlotte says, “people have asked me about the process, people that I work with externally to our business who are aware of the loan with NatWest. They’ve asked how it went, and whether I think that all the companies that they work with could potentially get themselves through it, and I've highly recommended it.”
Neil Brophy says: “Northcoders is a leading tech business in Manchester – it has good revenue based on its internally-generated IP, including its core learning platform and its course curriculum. It has demonstrated that its business model is well positioned to make the most of the increasing demand for technology training in the UK.”
Chris Hill, CEO of Northcoders, says: “We are delighted to start this new relationship with NatWest, with the terms of the arrangement highlighting the significant maturity of Northcoders and our internally built IP in recent years.”
“The UK’s economic growth is being held back by the digital skills gap, and therefore we are confident that the demand for Group’s first-class technology training will continue. The recent efforts of both private and public organisations to integrate AI and Machine Learning into the workplace is a demonstration of the importance of businesses like Northcoders which can provide the infrastructure for future growth.”
The NatWest IP-backed loan also offers the option to increase the borrowing facility each year, subject to IP valuation monitoring demonstrating that the company’s IP value has increased.
Northcoders was set up in 2015, and launched on the Alternative Investment Market (AIM) stock exchange with an IPO in 2021, valuing the company at £12.5m at that time. Northcoders continues to have a strong balance sheet, with cash and undrawn loan facilities totalling £2.5million as at 04 March 2025.
Headquartered in Manchester, the firm is an independent provider of training programmes for software coding in its home city and Leeds in West Yorkshire, alongside digital lessons via its online platform.
It offers a range of training and software development solutions to individual and corporate customers, including ‘bootcamp’ training courses, government-funded apprenticeships, bespoke training courses and software development solutions.
Manchester-based AIM-listed tech training company Northcoders has secured a £1.5m finance facility from NatWest, including a £1m IP-backed finance loan facilitated by Inngot’s online IP tools.
Northcoders is using the NatWest facility in part to refinance an existing £400,000 three year loan from Creative England at significantly better rates – a fixed rate of 3.5% above base compared to 11% previously.
A further £1m loan has been secured over four years against the company’s core intellectual property at a fixed rate of 2.5% above base. This element of the facility will be used to support the next stage of the company’s growth as it continues to diversify its revenue streams.
NatWest Group launched its revolutionary High Growth IP-backed loan in January 2024. Designed specifically for growing SMEs with valuable intellectual property (IP) assets and developed jointly with IP valuation specialists Inngot, the proposition aims to address the long-standing challenges faced by innovative businesses in securing debt financing by allowing them to use the value of their IP as collateral.
NatWest asks potential borrowers to use Inngot’s tools for IP identification, valuation and collateral suitability checking as part of the loan application process.
Northcoders plans to use the new funding to launch a brand new B2C Training Bootcamp course focusing on AI and Machine Learning. In development for the past year, the new course covers the principles of Data Engineering, Machine Learning, Cloud Technologies and the Engineering at the heart of AI language models. A fully online course lasting 14 weeks, it will start on 16 June 2025.
Charlotte Prior, Northcoder’s Chief Financial Officer, was first introduced to the NatWest IP-backed loan proposition by NatWest’s Neil Brophy, a Senior Relationship Manager specialising in Tech, Media and Telecoms for firms in the North West of England, in April 2024.
Charlotte says: “When Neil first told me about this IP loan, I thought it sounded amazing – but we weren’t looking to get a loan at that point. We were working through our growth model.”
Six months later, with growth plans fully developed, Charlotte reconnected with Neil Brophy. “In November 2024, with the plans for the new course in progress, it made sense to contact Neil again and explore the IP loan.” Charlotte registered on the Inngot site in early January 2025, and the loan documents were signed in early March, so the whole process took three months.
Charlotte says that the Inngot tools “were quite self-explanatory. There were some bits where we needed a little bit of extra help and we were introduced to a contact at Inngot early in the process. As an AIM-listed company we had all the financials and forecasts the Inngot system asked for, and there was excellent support from Inngot’s team when we did have any queries.”
She admits: “Identifying revenue purely from the IP we wanted to borrow against was a new concept for us, but once we had done it, it made us really proud when we saw how much that IP was worth.”
Obviously, NatWest is specifically interested in the IP a loan applicant has: Northcoders has audited accounts and financial forecasts, but she recalls “it wasn't like we were updating full company forecasts. We were updating the forecast revenue that derived from those pieces of tech and from the IP. The challenge was to separate the value and revenue they drive.”
As a result, she adds, “it definitely got us thinking about the importance of the IP and it made us feel proud of what we've put together completely internally over the last few years and what value that now has going forwards.”
Charlotte observes: “Tech companies like us don’t usually own hard assets like warehouses, offices and vehicle fleets; our main asset is our IP. I must admit, when we started discussing it, I never thought we’d be able to get any kind of meaningful loan secured against our IP. But when I went through the Inngot tools, I was really pleasantly surprised by the valuation.”
The challenge for a company such as Northcoders is that current accounting regulations mean its investment in its own internally-generated IP and intangibles only appears as a cost; the balance sheet cannot reflect the real revenue this IP is delivering.
Inngot’s platform can identify which IP is delivering real value, quantify that value, and help a lender decide whether it is strong enough to be used as collateral.
Since successfully applying for the NatWest High Growth IP-backed loan, Charlotte says, “people have asked me about the process, people that I work with externally to our business who are aware of the loan with NatWest. They’ve asked how it went, and whether I think that all the companies that they work with could potentially get themselves through it, and I've highly recommended it.”
Neil Brophy says: “Northcoders is a leading tech business in Manchester – it has good revenue based on its internally-generated IP, including its core learning platform and its course curriculum. It has demonstrated that its business model is well positioned to make the most of the increasing demand for technology training in the UK.”
Chris Hill, CEO of Northcoders, says: “We are delighted to start this new relationship with NatWest, with the terms of the arrangement highlighting the significant maturity of Northcoders and our internally built IP in recent years.”
“The UK’s economic growth is being held back by the digital skills gap, and therefore we are confident that the demand for Group’s first-class technology training will continue. The recent efforts of both private and public organisations to integrate AI and Machine Learning into the workplace is a demonstration of the importance of businesses like Northcoders which can provide the infrastructure for future growth.”
The NatWest IP-backed loan also offers the option to increase the borrowing facility each year, subject to IP valuation monitoring demonstrating that the company’s IP value has increased.
Northcoders was set up in 2015, and launched on the Alternative Investment Market (AIM) stock exchange with an IPO in 2021, valuing the company at £12.5m at that time. Northcoders continues to have a strong balance sheet, with cash and undrawn loan facilities totalling £2.5million as at 04 March 2025.
Headquartered in Manchester, the firm is an independent provider of training programmes for software coding in its home city and Leeds in West Yorkshire, alongside digital lessons via its online platform.
It offers a range of training and software development solutions to individual and corporate customers, including ‘bootcamp’ training courses, government-funded apprenticeships, bespoke training courses and software development solutions.
Manchester-based AIM-listed tech training company Northcoders has secured a £1.5m finance facility from NatWest, including a £1m IP-backed finance loan facilitated by Inngot’s online IP tools.
Northcoders is using the NatWest facility in part to refinance an existing £400,000 three year loan from Creative England at significantly better rates – a fixed rate of 3.5% above base compared to 11% previously.
A further £1m loan has been secured over four years against the company’s core intellectual property at a fixed rate of 2.5% above base. This element of the facility will be used to support the next stage of the company’s growth as it continues to diversify its revenue streams.
NatWest Group launched its revolutionary High Growth IP-backed loan in January 2024. Designed specifically for growing SMEs with valuable intellectual property (IP) assets and developed jointly with IP valuation specialists Inngot, the proposition aims to address the long-standing challenges faced by innovative businesses in securing debt financing by allowing them to use the value of their IP as collateral.
NatWest asks potential borrowers to use Inngot’s tools for IP identification, valuation and collateral suitability checking as part of the loan application process.
Northcoders plans to use the new funding to launch a brand new B2C Training Bootcamp course focusing on AI and Machine Learning. In development for the past year, the new course covers the principles of Data Engineering, Machine Learning, Cloud Technologies and the Engineering at the heart of AI language models. A fully online course lasting 14 weeks, it will start on 16 June 2025.
Charlotte Prior, Northcoder’s Chief Financial Officer, was first introduced to the NatWest IP-backed loan proposition by NatWest’s Neil Brophy, a Senior Relationship Manager specialising in Tech, Media and Telecoms for firms in the North West of England, in April 2024.
Charlotte says: “When Neil first told me about this IP loan, I thought it sounded amazing – but we weren’t looking to get a loan at that point. We were working through our growth model.”
Six months later, with growth plans fully developed, Charlotte reconnected with Neil Brophy. “In November 2024, with the plans for the new course in progress, it made sense to contact Neil again and explore the IP loan.” Charlotte registered on the Inngot site in early January 2025, and the loan documents were signed in early March, so the whole process took three months.
Charlotte says that the Inngot tools “were quite self-explanatory. There were some bits where we needed a little bit of extra help and we were introduced to a contact at Inngot early in the process. As an AIM-listed company we had all the financials and forecasts the Inngot system asked for, and there was excellent support from Inngot’s team when we did have any queries.”
She admits: “Identifying revenue purely from the IP we wanted to borrow against was a new concept for us, but once we had done it, it made us really proud when we saw how much that IP was worth.”
Obviously, NatWest is specifically interested in the IP a loan applicant has: Northcoders has audited accounts and financial forecasts, but she recalls “it wasn't like we were updating full company forecasts. We were updating the forecast revenue that derived from those pieces of tech and from the IP. The challenge was to separate the value and revenue they drive.”
As a result, she adds, “it definitely got us thinking about the importance of the IP and it made us feel proud of what we've put together completely internally over the last few years and what value that now has going forwards.”
Charlotte observes: “Tech companies like us don’t usually own hard assets like warehouses, offices and vehicle fleets; our main asset is our IP. I must admit, when we started discussing it, I never thought we’d be able to get any kind of meaningful loan secured against our IP. But when I went through the Inngot tools, I was really pleasantly surprised by the valuation.”
The challenge for a company such as Northcoders is that current accounting regulations mean its investment in its own internally-generated IP and intangibles only appears as a cost; the balance sheet cannot reflect the real revenue this IP is delivering.
Inngot’s platform can identify which IP is delivering real value, quantify that value, and help a lender decide whether it is strong enough to be used as collateral.
Since successfully applying for the NatWest High Growth IP-backed loan, Charlotte says, “people have asked me about the process, people that I work with externally to our business who are aware of the loan with NatWest. They’ve asked how it went, and whether I think that all the companies that they work with could potentially get themselves through it, and I've highly recommended it.”
Neil Brophy says: “Northcoders is a leading tech business in Manchester – it has good revenue based on its internally-generated IP, including its core learning platform and its course curriculum. It has demonstrated that its business model is well positioned to make the most of the increasing demand for technology training in the UK.”
Chris Hill, CEO of Northcoders, says: “We are delighted to start this new relationship with NatWest, with the terms of the arrangement highlighting the significant maturity of Northcoders and our internally built IP in recent years.”
“The UK’s economic growth is being held back by the digital skills gap, and therefore we are confident that the demand for Group’s first-class technology training will continue. The recent efforts of both private and public organisations to integrate AI and Machine Learning into the workplace is a demonstration of the importance of businesses like Northcoders which can provide the infrastructure for future growth.”
The NatWest IP-backed loan also offers the option to increase the borrowing facility each year, subject to IP valuation monitoring demonstrating that the company’s IP value has increased.
Northcoders was set up in 2015, and launched on the Alternative Investment Market (AIM) stock exchange with an IPO in 2021, valuing the company at £12.5m at that time. Northcoders continues to have a strong balance sheet, with cash and undrawn loan facilities totalling £2.5million as at 04 March 2025.
Headquartered in Manchester, the firm is an independent provider of training programmes for software coding in its home city and Leeds in West Yorkshire, alongside digital lessons via its online platform.
It offers a range of training and software development solutions to individual and corporate customers, including ‘bootcamp’ training courses, government-funded apprenticeships, bespoke training courses and software development solutions.
Manchester-based AIM-listed tech training company Northcoders has secured a £1.5m finance facility from NatWest, including a £1m IP-backed finance loan facilitated by Inngot’s online IP tools.
Northcoders is using the NatWest facility in part to refinance an existing £400,000 three year loan from Creative England at significantly better rates – a fixed rate of 3.5% above base compared to 11% previously.
A further £1m loan has been secured over four years against the company’s core intellectual property at a fixed rate of 2.5% above base. This element of the facility will be used to support the next stage of the company’s growth as it continues to diversify its revenue streams.
NatWest Group launched its revolutionary High Growth IP-backed loan in January 2024. Designed specifically for growing SMEs with valuable intellectual property (IP) assets and developed jointly with IP valuation specialists Inngot, the proposition aims to address the long-standing challenges faced by innovative businesses in securing debt financing by allowing them to use the value of their IP as collateral.
NatWest asks potential borrowers to use Inngot’s tools for IP identification, valuation and collateral suitability checking as part of the loan application process.
Northcoders plans to use the new funding to launch a brand new B2C Training Bootcamp course focusing on AI and Machine Learning. In development for the past year, the new course covers the principles of Data Engineering, Machine Learning, Cloud Technologies and the Engineering at the heart of AI language models. A fully online course lasting 14 weeks, it will start on 16 June 2025.
Charlotte Prior, Northcoder’s Chief Financial Officer, was first introduced to the NatWest IP-backed loan proposition by NatWest’s Neil Brophy, a Senior Relationship Manager specialising in Tech, Media and Telecoms for firms in the North West of England, in April 2024.
Charlotte says: “When Neil first told me about this IP loan, I thought it sounded amazing – but we weren’t looking to get a loan at that point. We were working through our growth model.”
Six months later, with growth plans fully developed, Charlotte reconnected with Neil Brophy. “In November 2024, with the plans for the new course in progress, it made sense to contact Neil again and explore the IP loan.” Charlotte registered on the Inngot site in early January 2025, and the loan documents were signed in early March, so the whole process took three months.
Charlotte says that the Inngot tools “were quite self-explanatory. There were some bits where we needed a little bit of extra help and we were introduced to a contact at Inngot early in the process. As an AIM-listed company we had all the financials and forecasts the Inngot system asked for, and there was excellent support from Inngot’s team when we did have any queries.”
She admits: “Identifying revenue purely from the IP we wanted to borrow against was a new concept for us, but once we had done it, it made us really proud when we saw how much that IP was worth.”
Obviously, NatWest is specifically interested in the IP a loan applicant has: Northcoders has audited accounts and financial forecasts, but she recalls “it wasn't like we were updating full company forecasts. We were updating the forecast revenue that derived from those pieces of tech and from the IP. The challenge was to separate the value and revenue they drive.”
As a result, she adds, “it definitely got us thinking about the importance of the IP and it made us feel proud of what we've put together completely internally over the last few years and what value that now has going forwards.”
Charlotte observes: “Tech companies like us don’t usually own hard assets like warehouses, offices and vehicle fleets; our main asset is our IP. I must admit, when we started discussing it, I never thought we’d be able to get any kind of meaningful loan secured against our IP. But when I went through the Inngot tools, I was really pleasantly surprised by the valuation.”
The challenge for a company such as Northcoders is that current accounting regulations mean its investment in its own internally-generated IP and intangibles only appears as a cost; the balance sheet cannot reflect the real revenue this IP is delivering.
Inngot’s platform can identify which IP is delivering real value, quantify that value, and help a lender decide whether it is strong enough to be used as collateral.
Since successfully applying for the NatWest High Growth IP-backed loan, Charlotte says, “people have asked me about the process, people that I work with externally to our business who are aware of the loan with NatWest. They’ve asked how it went, and whether I think that all the companies that they work with could potentially get themselves through it, and I've highly recommended it.”
Neil Brophy says: “Northcoders is a leading tech business in Manchester – it has good revenue based on its internally-generated IP, including its core learning platform and its course curriculum. It has demonstrated that its business model is well positioned to make the most of the increasing demand for technology training in the UK.”
Chris Hill, CEO of Northcoders, says: “We are delighted to start this new relationship with NatWest, with the terms of the arrangement highlighting the significant maturity of Northcoders and our internally built IP in recent years.”
“The UK’s economic growth is being held back by the digital skills gap, and therefore we are confident that the demand for Group’s first-class technology training will continue. The recent efforts of both private and public organisations to integrate AI and Machine Learning into the workplace is a demonstration of the importance of businesses like Northcoders which can provide the infrastructure for future growth.”
The NatWest IP-backed loan also offers the option to increase the borrowing facility each year, subject to IP valuation monitoring demonstrating that the company’s IP value has increased.
Northcoders was set up in 2015, and launched on the Alternative Investment Market (AIM) stock exchange with an IPO in 2021, valuing the company at £12.5m at that time. Northcoders continues to have a strong balance sheet, with cash and undrawn loan facilities totalling £2.5million as at 04 March 2025.
Headquartered in Manchester, the firm is an independent provider of training programmes for software coding in its home city and Leeds in West Yorkshire, alongside digital lessons via its online platform.
It offers a range of training and software development solutions to individual and corporate customers, including ‘bootcamp’ training courses, government-funded apprenticeships, bespoke training courses and software development solutions.
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Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders
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Copyright © Inngot Limited 2019-2025. All rights reserved.
Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders
Accreditations
Copyright © Inngot Limited 2019-2025. All rights reserved.
Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders
Accreditations
Copyright © Inngot Limited 2019-2025. All rights reserved.
Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders
Accreditations
Copyright © Inngot Limited 2019-2025. All rights reserved.