The Family invests in accounting firm Magic Digits to accelerate growth
Investment will be used to help support Magic Digits’ growth as a dedicated provider of back office services for creative agencies
12 January, 2022, London, UNITED KINGDOM
Creative and professional services group The Family has invested in an accounting firm, Magic Digits, which specialises in providing management accounting to the creative services sector.
Magic Digits, which was launched by Rachael Marshall in 2021, has been providing accountancy and HR services to The Family and its group companies including Hype Collective and Hard Numbers since their launch. It has built a diverse client list of PR, branding and communications companies including Don’t Cry Wolf, Glock, The Good Egg, BrandContent, Propel and a number of other agencies.
The investment fits with The Family’s strategy of investing in entrepreneurial individuals, teams and opportunities in the marketing services sector.
Magic Digits has taken an agency cost centre and turned it into a service business. The investment will enable Magic Digits to grow its team, onboard new clients more quickly and add additional services for its clients in future. This will allow Magic Digits to become a one-stop shop for creative agencies who want to outsource their back office functions.
The Family is the creative and professional services group behind performance-driven communication consultancy Hard Numbers and youth marketing agency Hype Collective. As per of the investment, Hard Numbers will also use its account based marketing services to drive new business opportunities for Magic Digits.
Rachael Marshall, Co-Founder and Managing Director at Magic Digits, commented:
“The creative services sector is one of the most entrepreneurial in the UK. But we know that many agency founders need experienced support on the financial side of their businesses. We’re building the best finance team in the creative industry and ensuring that every agency - from one person micro agencies and up - have access to everything from bookkeeping support to CFO-level consulting. The team at The Family have successfully scaled two agencies past the seven figure revenue. What’s even more valuable than the financial investment is their expertise in bringing this offering to the market.”
Darryl Sparey, Co-Founder and Managing Director at Hard Numbers, commented:
“If communications agencies really believe in the value of the services they provide, investing in other start-up businesses is a no-brainer. At Hard Numbers, we help a lot of professional service businesses build their brand as well as their bottom line. We’re investing in Magic Digits because we know it has the potential to scale from a microbusiness to a large agency, and we believe that our sales-driven approach to account based marketing and communications can help it get there faster.”
For more information, visit TheFami.ly.
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About Magic Digits:
Magic Digits is a financial consultancy working primarily with businesses in the creative sector. We cover all financial services, such as year-end accounts, self-assessment returns, bookkeeping services, payroll, management accounts, and financial planning services. Magic Digits also include add on services, such as HR support, IT support and Office/Administration & PA services. We are the friendly and responsive finance team that wants to understand your business and be a part of its growth and success.
Our aim is to free up our clients so they can focus on running their business, while we take care of the numbers.
We're here to be the backbone of your business. You bring the magic, and we'll do the digits.
For more information, please visit: Magic-Digits.co.uk
About The Family:
The Family is group of creative and professional services businesses. We give agency founders the support they need to launch and grow their businesses. That's what family is for.
The Family’s portfolio currently contains youth marketing agency Hype Collective, launched in 2017, B2B communications agency Hard Numbers, launched in 2020, and Magic Digits, which joined in January 2021.
There are three principal shareholders in The Family: Simon Lucey, Paul Stollery and Darryl Sparey. For more information, please visit: TheFami.ly
About Hard Numbers:
Hard Numbers is a performance-driven, data-informed marketing and communications consultancy, with a focus on delivering tangible, demonstrable return on investment for our clients. We create campaigns that drive pipeline, sales and company growth for fast-moving business-to-business companies.
We speak in plain English. We hate jargon. We work very hard. We utilise technology to make us more efficient. We use continuous professional development to make us better at our practice. And we measure and deliver meaningful results. Not just reach.
In uncertain times, you need Hard Numbers.
For more information, please visit: HardNumbers.co.uk
About Hype Collective:
Hype Collective is a youth marketing agency. We work primarily across experiential, influencer, research and paid media.
Every campaign that we run creates opportunities for students, whether that is work experience, society funding or brand partnerships.
For more information, please visit: HypeCollective.co.uk