Innovative Systems Limited (ISL) has announced a partnership with investment brokerage firm, Mayberry Investments Limited (Mayberry). The tech company has advised that Mayberry will now act as its financial advisory and lead brokerage firm, having signed an agreement on October 18, 2022, at Mayberry’s corporate offices.
ISL, which recently expanded by opening a second location, is one of the first retail tech stores in Jamaica and has remained a dominant player in the industry for 35 years. This agreement with Mayberry will allow ISL to find the best venues through which it will be able to finance further expansion plans.
The team at ISL plans to undertake a full renovation of its flagship store at Sovereign, along with opening three new locations in Portmore in St Catherine, Ocho Rios in St Ann and Montego Bay in St James, as well as a massive 5,000-7,000 sq ft superstore in Kingston, providing a more comfortable environment for its customers.
“Mayberry is excited about bringing this deal to fruition. ISL outlined to us their plans and what they aim to accomplish, from which we were able to devise a strategic financial structure tailored specifically for those goals,” said Rachel Kirlew, assistant vice president of investment banking at Mayberry.
Dan Theoc, senior vice-president of investment banking at Mayberry, said: “Mayberry is always on the lookout for fresh and cogent partnerships that will be valuable to consumers. We are eager to assist in strengthening the Jamaican tech community, through ISL.”
Garth Walker, director at Innovative Systems Limited, said: “The market has grown to trust us and so, it is of utmost importance that we offer the best quality products at the most competitive prices. Innovation is our foundation, therefore we remain committed to meeting our customers’ needs and as such, we have major expansion plans on the table. This will enhance our services allowing us to better cater to our customers.”
ISL’s representatives said they were enthused about the partnership which will see the company placing maximum focus on expanding its services to facilitate business-to-business (B2B) services, and introducing new products and services to the already existing ones.
Walker continued to state: “We are seeing a massive take-up of the B2B arm of the business, whose revenue has increased over 120 per cent since we [Growth Tech] have taken the reins of the business.”