Hoppa Group, which consists of trade transfer specialist A2Btransfers and consumer direct business, hoppa, announced the investment from Boost&Co today (Thursday).

A2Btransfers said in an email sent to agents on Wednesday that the money would be used to grow the business to the "next level", by "providing more great services and destinations to you and your customers".

"It will enable us to scale our development and sales capabilities, ensuring that we can continue to support you and your customers even further," read the email.

"We appreciate the support given to us by yourselves and we hope that you are all on board with A2Btransfers as we continue to grow with you through 2017 and beyond.

"Boost&Co have seen the growth delivered so far, and can see the huge potential to grow further over the coming years."

Chief executive, Renaldo Scheppers, said: "We are delighted with this investment from Boost to help us further grow our business and take it to the next stage with a particular focus on growing destinations for our customers and to invest in our technology."

Lance Mysyrowicz, partner at Boost&Co, added: "I am delighted to support Hoppa Group with their growth and development plans and am impressed with the wide choice of products and destinations that they already offer.

"We look forward to working with them as they expand their product range and destinations."

Hoppa is based in Woking, Surrey, and Johannesburg, South Africa, and employs more than 130 people.