Equistone Partners Europe has taken a minority stake in QuestGates to support its ongoing organic and acquisitive growth.
"Over the 20 years since incorporation,QuestGates has grown to be a leader in the UK loss adjusting and claims sector. We undertook anextensive review to identify a partner who could provide the capital and support that would allow us tomaintain our growth and continue investing in innovation and service quality. With its long-term approach, track record of supporting UK financial services businesses and cultural alignment around our focus on our customers and staff, Equistone is the right fit as the partner to support the next phase of ourdevelopment."
The funding from BGF will support international growth, infrastructure development, and targeted acquisitions.
"Today’s announcement marks a pivotal moment in Evolve’s journey. The investment from BGF is not just a testament to our robust growth and the confidence of our investors, it’s also a strategic step forward in advancing our mission to innovate in our industry, and take the pain out of connectivity for our customers. We are excited about the opportunities this investment will unlock and remain committed to delivering unparalleled value to our stakeholders."
K1 has taken a stake in Board Intelligence to support global expansion and product development.
"While we have always been a profitable business and did not need capital, we partnered with K1 for their operational expertise in accelerating investments in AI and scaling companies globally through organic and inorganic growth. K1 has a history of building category leaders and we’re excited to leverage their experience to strengthen our position globally."
Guinness Ventures led the round, with additional backing from Scottish Enterprise, Growthdeck, The SideBySide Partnership, Equity Gap, and Virgin Money.
"This investment accelerates our mission to deliver game improvement technology to 60 million golfers around the world. Throughout 2024 we plan to invest in infrastructure across the USA to support our retail and distribution partners. Golfers globally love our GPS, rangefinder and shot-tracking technology, having sold products in 160 different countries worldwide in 2023. Golf has experienced a huge change in the past 5 years, people of all ages and demographics love the sport. With Shot Scope golfers can improve quickly and enjoy the game they love even more."
Accel led the seed round with participation from Picus Capital, Eka Ventures, and notable angels to fund team expansion and market growth.
"Karl and Archy have a wealth of experience in the energy sector, and their vision for rebuilding the grid in favour of renewable energy sources is truly exciting – and necessary. They’ve seen strong early traction, with their easy-to-use software platform already being used by major manufacturers. We’re proud to back Axle Energy as they continue this growth."
