e-Bate secures £950k from Mercia, MEIF and Future Fund to drive sales growth.
The Leicester software developer raised follow-on capital from regional funds and government backing to expand its team and global reach.
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.
Leicester software firm e-Bate has secured £950k in a second funding round to support team expansion and international sales growth. The investment came from the MEIF Proof of Concept and Early Stage Fund managed by Mercia, alongside Mercia's own EIS funds and the government Future Fund. This capital injection follows increased demand for digital rebate management tools amid pandemic trading conditions, bringing the total raised by the business to over £2m.
Investor perspective
"Financial services are one of our key industries here in Leicester and Leicestershire, so I’m very pleased that the MEIF was able to support a business that is taking an innovative approach to helping businesses manage profitability. The LLEP is committed to supporting our businesses through COVID-19, so it’s great to see such a streamlined solution to rebates that will be of great benefit to the wider business community."
Kevin Harris
Chair of the Leicester and Leicestershire Enterprise Partnership Board of Directors, Leicester and Leicestershire Enterprise Partnership
Use of funds
- 01Grow the team
- 02Expand into international markets
