e-bate secures £1.3m from Mercia and angel investors to expand sales and product development
The Leicester software firm has raised a further £1.3m from the MEIF Proof of Concept and Early Stage Fund, Mercia EIS Funds and angels.
Software platform designed to help companies manage and simplify rebate and incentive schemes. The technology replaces manual spreadsheet calculations with greater process visibility and data insights.
Rebate management software provider e-bate has secured £1.3m in a fresh funding round to support its ongoing expansion. The capital was supplied by the MEIF Proof of Concept and Early Stage Fund alongside Mercia EIS Funds and a group of angel investors. The latest injection will allow the company to grow its sales personnel and further develop its software offering following significant customer acquisition.
From the founder
"This investment is key to the next level of growth within our business. The next 12 months are going to be very exciting, seeing us reach other markets and geographies with a product that is always innovating for the good of our customers."
Leanne Bonner-Cooke
Founder at e-Bate
Investor perspective
"Our investment into e-bate shows how Mercia can support an exciting and innovative company through its life cycle by deploying capital from our different funds as it grows."
Sandy Reid
Deputy Fund Principal, Mercia
Use of funds
- 01Invest in sales and marketing
- 02Continue product development
