Sanco, a Newcastle-based Neapolitan pizza dining experience, has secured a strategic investment from NPIF II – NEL Smaller Loans, which is managed by NEL Fund Managers as part of the Northern Powerhouse Investment Fund II (NPIF II).

Founded by Newcastle local Paolo Franchi, Sanco will bring an innovative and authentic Italian dining concept to the city, serving hand-crafted pizzas baked in a traditional wood-fired oven. Its unique ‘pizza roulette’ invites guests to switch on a table light to receive surprise slices of freshly made pizza and switch it off when they’re done. The concept offers a fresh take on casual dining, designed to reduce food waste and create a memorable and sociable experience around quality food.

The funding, led by Investment Executive Jonathan Armitage, will support the launch of the restaurant, which is set to open next week. Rooted in authentic Italian techniques, bold flavours and sustainability, customers can expect traditional pizzas, with ingredients imported from Italy and served in a vibrant, welcoming setting.

Jonathan Armitage, investment executive at NEL Fund Managers, commented: “NEL is building a track record of supporting fantastic businesses and brands in the leisure and hospitality sector across the North East. We’re absolutely delighted to add Sanco to our portfolio.

“Paolo brings a wealth of knowledge, experience and professionalism to the business and it was a pleasure to work with him. We’re excited to see this new concept fully launched in a city recently crowned as best in the UK for food and drink and we look forward to seeing the business go on to be a great success.”

Paolo Franchi, founder of Sanco, expressed: “It was an absolute pleasure dealing with Jonathan and the NEL team. I received invaluable support and guidance throughout the entire process, particularly the due diligence stage. It was fantastic to see how genuinely passionate the team was about my business, and I can’t wait to launch and see what we achieve.

“Being a local lad starting up a business in the city I love means everything to me. I’m so glad to have taken this step and explored what was possible with NEL and NPIF II funding. I’d encourage anyone in a similar position to investigate the support that’s out there.”

Sarah Newbould, senior investment manager at the British Business Bank, said: “NPIF II is committed to backing innovative ventures like Sanco. Paulo has created a sustainable, fresh and boundary-pushing dining experience that redefines the norm and reduces food waste. We’re excited to see Sanco launch and can’t wait to see what they go on to achieve.”

The £660m Northern Powerhouse Investment Fund II (NPIFII) 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.

NEL Fund Managers are also managing the NPIF II – NEL Debt Finance which offers Debt Finance from £100,000 to £2m to established businesses looking to realise their growth potential.

For more information about NEL, please visit www.nel.co.uk or contact the investment team on 0345 369 7007.

Pictured from left to right: Paolo Franchi, founder of Sanco & Jonathan Armitage, investment executive at NEL Fund Managers