Quotevine, a provider of SaaS solutions for the asset and automotive finance industries, has received £2.2 million in funding from private-equity firm, NVM. The UK based investors’ backing of Quotevine is validation of its mission to help asset and automotive finance companies modernise operations and create opportunities from disruptive technologies such as IoT and Artificial Intelligence.
Quotevine will use the capital to fund UK growth over the next three years. Specifically, it will invest in growing its sales, developer and operations workforces so that it can fuel revenue growth alongside further development of its current suite of products to meet existing and new client demands. The product portfolio includes solutions that help businesses deal with the spectrum of legacy challenges known within the industry – from reporting, underwriting and pricing inefficiencies, to antiquated customer offerings and slow product innovation. Quotevine can currently count 1pm plc, Toyota Financial Services and MotoNovo Finance as customers.
Following this, Quotevine will focus on international growth and building further products to support their clients with revenue growth and improved operational efficiencies.
“This investment is a big vote of confidence for Quotevine and the work we are doing. There is a big shift taking place in the asset and auto finance sector, driven by the prevalence of interesting technologies like AI and IoT. Businesses in this space have a huge opportunity to get ahead by understanding how these technologies can be adopted to drive operational value and better meet customers shifting demands and need for personalisation. We are thrilled we have NVM on board and look forward to building our business.” says Daniel Layne, Founder and CEO of Quotevine.
Aaron Lawson-Clark, Investment Manager at NVM and incoming Quotevine board member said: “NVM is delighted to complete its investment into Quotevine. The business has a unique opportunity to disrupt digitisation in the automotive and asset finance industries. The management team have some exciting plans and we look forward to working with them on the journey ahead. Daniel and the team stood out for their ability to innovate at pace and delight customers of all sizes.”
Quotevine is a technology business that provides a suite of SaaS solutions to digitise asset and automotive finance. They connect the dots for the web of partners and providers in the asset and automotive finance industries, allowing our clients to bring their operations into the digital age and keep pace with their customers’ changing expectations.
Quotevine’s team is made up of both automotive and asset finance specialists. They use our combination of technical and industry know-how to solve familiar industry problems and spot inefficiencies that have not yet been addressed.
Quotevine’s first-hand experience of legacy constraints, coupled with a digital-first mentality allows us to deliver the expertise of a large business with the creative agility of a start-up. www.quotevineapp.com
About NVM Private Equity
NVM Private Equity is independently owned with over 30 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing approximately £440 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities of between £1 million and £15 million in UK businesses, which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. www.nvm.co.uk
For further information please contact:
- Natalie Dickinson (NVM: PR & Marketing) – 0118 951 7021 [email protected]