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NPIF II leads £2.4m investment into LCR-based tech platform taking ‘Moneyball approach’ to ecommerce

Press release 17 February 2026

A Liverpool City Region-based ecommerce solution that counts MandM, Hotel Chocolat, On the Beach, Benson for Beds and Jacamo among its clients has raised £2.4m in an investment round led by NPIFII – PXN Equity Finance, which is managed by PXN Ventures as part of the Northern Powerhouse Investment Fund II.

Made With Intent has developed an AI-powered model that, when added to ecommerce websites, provides real-time customer insights by analysing over 800 onsite signals, such as clicks, to predict intent. Retailers then use this data to deliver intent-based experiences, such as unique messages or email capture, at the moments they are most impactful.

The brands using Made With Intent to deliver personalised experiences, on average, boost revenues by almost 10% and profit margins by more than 11%, due to offers and discounts being better timed and more aligned to their needs.

The company was founded by David Mannheim, a published author who has written about intent in marketing and previously sold his agency User Conversion to the digital marketing giant Brainlabs. 

Peter Carway, Investment Director at PXN Ventures; David Mannheim CEO and founder of Made With Intent; Sue Barnard, British Business Bank and Harry Manley, Investment Associate at PXN Ventures

Having grown revenue by 150% over the last year, Made With Intent is now gearing up to expand further into Europe and the US. The business also plans to make its product even more powerful and user-friendly. This includes plans to launch more agentic features and deeper insights, which will enable brands to go further with their campaign aims.

To deliver on these ambitions, the investment round led by NPIF II – PXN Equity Finance, along with Made With Intent’s existing investors Mercuri and Haatch, will allow the team to double its headcount and make key hires across its engineering, data, sales and marketing departments.

This latest investment represents NPIF II’s continued focus on supporting the priority sectors within the Government’s Industrial Strategy, with Made With Intent showcasing how the Creative Industries and Digital and Technology sectors can work together, producing businesses that create jobs, while driving wider economic growth through the services they provide.

David Mannheim, founder and CEO of Made With Intent, said:

Too many brands are only looking at page views, time on site and clicks as their go-to metrics without tapping into their customers’ level of intent, leading to missed opportunities. Intent data not only reveals each visitor’s mindset, but because it updates as they shop, it lets you deliver experiences right at the optimal moments.

Made With Intent lets ecommerce brands take a Moneyball approach to finding new growth. It helps them to boost revenue and profit gains by increasing sales and not giving discounts away too cheaply. Having NPIF II - PXN Ventures on board, as well as continued support from our existing investors Mercuri and Haatch, will enable us to scale and reach more brands across more territories, who may otherwise get left behind in the changing world of ecommerce.

Patricia El Jichi, Investment Manager at PXN Ventures, said: 

Online retailers often have access to large amounts of customer data, but not every retailer knows how to use it to improve customer experience and boost sales. Made With Intent is leading the industry by understanding the intent of the consumer, which is an incredibly challenging problem, but one that that will create competitive advantages for the retailers that adopt it. The ecommerce landscape is becoming more sophisticated and traditional metrics are being improved upon by smarter campaign decisions, with David and his team at the forefront of that change.

Sue Barnard, Senior Investment Manager at British Business Bank, said:

The UK’s creative and digital industries are essential to driving future growth across the economy. Innovative, fresh ideas that address the needs of modern businesses can help to uplift entire sectors, driving sales and creating entirely new jobs. That’s why we’re proud to be backing businesses like Made With Intent through NPIF II, helping ambitious retailers to scale while building a thriving global business all from a Northern base.

The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

Further Information

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Notes to editors

About the Northern Powerhouse Investment Fund II  

  • Operated by the British Business Bank, the Northern Powerhouse Investment Fund II (NPIF II) provides a mix of debt and equity funding.  NPIF II will offer a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. It works alongside the Combined Authorities, Local Enterprise Partnerships (LEPs), and Growth Hubs, as well as local intermediaries such as accountants, fund managers and banks, to support the South West’s smaller businesses at all stages of their development.
  • The funds in which the NPIF II invests are open to businesses with material operations, or planning to open material operations, in: Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, City of Kingston upon Hull, East Riding of Yorkshire, North Yorkshire, South Yorkshire, West Yorkshire, Hartlepool and Stockton-on-Tees, South Teesside, Darlington, Durham, Northumberland, Tyneside, Sunderland.
  • Supported by Nations and Regions Investments Limited, a subsidiary of British Business Bank plc, the Bank is a development bank wholly owned by HM Government. Neither Nations and Regions Investments Limited nor British Business Bank plc are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).

About PXN Ventures

PXN Ventures is the venture capital arm of PXN Group, formed as a result of two of the North’s best fund managers (Praetura Ventures and Par Equity) coming together to create an investor that the region deserves. With offices in Manchester, Edinburgh, Leeds and London, we deliver world-class investment programmes at scale to help build the Northern economy, supporting founders across a diverse range of sectors, including deep tech, life sciences and software. PXN Ventures is committed to backing early-stage founders across the North of the UK, with a long and growing list of northern success stories in our portfolio that have received early backing from PXN, including Modern Milkman, Phlo, AccessPay, Street Group and Advanced Electric Machines. As well as its EIS, VCT and institutional funds, including the GMC Life Sciences Fund II, PXN Ventures is the North West fund manager for the Northern Powerhouse Investment Fund II, which is managed on behalf of the British Business Bank.

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