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WHO IS IT? Proxama is involved in proximity marketing. Companies in this field are the reason you get emails and vouchers from stores you’ve just been in. It also changes card payment systems to chip and pin from old magnetic stripe systems.

WHAT’S THE LATEST? This week the firm announced it had won a £300,000 grant from Innovate UK to design and implement a smart transportation model for the Greater Manchester area. It will aim to use its technology to match transport services to public demand. It’s the fourth grant it has won from the organisation.

WHO BACKS IT? The largest shareholder is non-executive director Gavin Breeze who has a 12pc stake, with 254m shares. He was fined for insider trading in connection with another firm last year. Venture capital and small businesses investment specialists including Hargreave Hale and Octopus Investments are also major shareholders.

WHY YOU SHOULD INVEST Proximity marketing is a growing area of interest for firms – Proxama estimates the market is growing around 30pc a year. Companies want to know when you’re in their shop so they can encourage you to buy. The data gathered by Proxama is vital to this. In September, it was one of only two location services companies worldwide to be certified by Google.

AND WHY YOU SHOULDN’T Proxama estimated a loss of £3.5m for 2016. It cut costs by 24pc in a bid to get to monthly break-even point this year. Shares dived in December after the sale of its digital payments division was delayed into this year. It raised £1.8m for working capital ahead of the sale.