IDenteq secures £700k from the Midlands Engine Investment Fund to fuel product development
The follow-on investment from Future Planet Capital Regional will support new software launches and team expansion.
IDenteq provides specialist data solutions and validation platforms for the utilities sector. The company develops software to help firms verify customer information and combat revenue loss.
IDenteq has secured £700k in follow-on funding from the Midlands Engine Investment Fund, directed through its regional equity vehicle managed by Future Planet Capital Regional. The fresh capital will back product development, including a new premium software offering for credit risk assessment, alongside targeted recruitment across sales and marketing functions. Founded in 2020, the West Midlands enterprise focuses on customer data validation to help utility providers curtail fraud and revenue leakage.
From the founder
"This follow-on investment is a fantastic validation of our vision and the progress we’ve made to date. It will allow us to accelerate our product roadmap, delivering innovative solutions that meet the evolving needs of the sector. We’re partnering with utilities to raise the bar for the entire data services industry, and we’re excited to welcome new talent to the team as we drive forward into our next phase of growth."
Andrew McKinney
CEO at IDenteq
Investor perspective
"We’re delighted to continue supporting IDenteq as they enter their next phase of growth. The deeply experienced leadership team has an ability to rapidly develop and launch innovative solutions which makes them a standout in their sector. We look forward to providing continued support to help them scale the business."
Tony Stott
Investment Director, Future Planet Capital Regional
Use of funds
- 01Continue product development
- 02Grow the team
- 03Invest in sales and marketing