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BGF Quoted supports Netcall’s acquisition of Beringea-backed MatsSoft

BGF Quoted has provided GBP7 million in funding to AIM-listed Netcall, a provider of technology solutions that help businesses better engage with their customers, to support Netcall’s acquisition of Beringea-backed MatsSoft Limited, a cloud-based software provider.

The investment was transacted via BGF’s most recently opened regional office in Milton Keynes.
 
Headquartered in Hemel Hempstead, Netcall has more than 700 customers in the private and public sector including NHS Acute Health Trusts, BT, Lloyds Banking Group, Axa and Interflora. The company’s product suite incorporates omni-channel contact centre, workforce optimisation and business process management, delivered through its integrated platform, Liberty.
 
Bedford-headquartered MatsSoft has a low-code software platform used by approximately 60 customers globally including Vodafone, Nationwide Building Society and ITV. The acquisition will increase Netcall’s cloud presence and provide access to the fast growing low-code market.
 
BGF Quoted’s funding into Netcall was led by Mark Nunny, Sarah Ledwidge, Tom Jenkins and Paul Stevens.
 
Henrik Bank, CEO, Netcall, says: “We are taking a big step forward in delivering on our strategy and are thrilled to have MatsSoft as a part of Netcall. We see a great opportunity offering the MatsSoft capabilities to our customers as well as expanding into new markets, which was made possible with the funding provided by BGF.”
 
BGF’s Tom Jenkins, says: “Netcall has a strong track record on AIM and a talented management team, led by Henrik. This acquisition takes the business into the low-code market, which provides an interesting opportunity for further growth. We are delighted to support Netcall with this funding.”
 

Beringea has supported the growth of MatsSoft over the last six years, investing over GBP2 million via its ProVen VCTs in 2011 and 2012. Today’s deal allows Beringea to realise its investment, delivering healthy returns for its investors. 

 

Rob Dagger, Investment Manager at Beringea, says: “MatsSoft was one of the first providers in the now rapidly expanding low-code market. The impressive management team and flexibility of the MATS platform to support a wide range of business applications has allowed the company to secure big name clients across a range of industries. It’s been great to work alongside them and Beringea is delighted to have been able to support the growth of the company over the last six years.” 

 

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