The Scottish National Investment Bank was set up to invest patient capital in business, projects and communities that align with its missions.
To date £97.9million of backing has been provided to help harness innovation and provide support to industries of the future.
Jimmy Williamson, Executive Director of Innovation at the Scottish National Investment Bank said: “The Bank’s investment will support Forrit as they look to reach the next stage of their development.
Forrit’s CMS technology has a strong alignment with our innovation mission, and we look forward to working with them to deliver their ambitious growth plans.”
Forrit Founder and CEO, Peter Proud, said:
“We’ve experienced enormous growth since we launched. While to date we have self-funded our growth through client engagements, as we take Forrit to the next level, now felt like the right time for us to seek external funding.
This investment from the Scottish National Investment Bank will help us to expand our presence not only in Scotland but into new markets across the UK and beyond”.