Two entrepreneurs from Bridlington have an extra bounce in their step after receiving a £5m investment from an EIS fund through Guinness Asset Management, an investment management firm.
Michael Harrison and Harvey Jenkinson founded GraVity in 2014 and the firm continues to grow, thanks to the huge popularity of trampolining.
The duo built GraVity’s first trampoline park themselves at Xscape Yorkshire which opened its doors in February 2015.
Since then, GraVity has opened three further trampoline parks in Riverside, Norwich; St Stephens, Hull and Lockmeadow, Maidstone.
The duo now have plans to double in size with four further parks in prime locations.
The £5million investment will enable GraVity to expand its presence across the UK with these four new locations as well as make modifications to existing parks to introduce new activities and increase capacity.
Michael Harrison, co-founder and chief operations officer, said: “We have made significant progress since opening our first trampoline park. From sleeping on the trampolines at night and working 16 hour days to build our first park, we are now a profitable business and the only trampoline park operator to focus on desirable high footfall retail and leisure locations.”
Malcolm King, investment manager at Guinness Asset Management Ltd, said: “We have been very impressed by Harvey and Michael, who have grown GraVity into one of the UK’s leading trampoline park operators.
“We are delighted to have completed our investment into GraVity.”