Scottish Equity Partners takes significant stake in Glasgow-based fintech
Scottish Equity Partners (SEP) has completed a significant growth equity investment in Glasgow-based fintech firm AutoRek.
Its cloud-based software-as-a-service (SaaS) platform has experienced significant growth in the past three years and investment from SEP will enable the company to accelerate its product development plans and further extend its offering internationally.
Partnering with SEP should support the company to further enhance its proposition and address a global regulatory and data management software market worth more than $2bn annually.
The deal was led by SEP partner Andrew Davison and Angus Conroy, a director at the firm. Both will join the AutoRek board.
Conroy said: “AutoRek is a fast growing and capital efficient SaaS company, delivering business critical functionality to financial institutions across the asset management, banking and insurance sectors.
“The company has an excellent reputation in the financial and regulatory data management market and a strong focus on product innovation.
“We are pleased to be working with the management team to help them achieve their growth ambitions.”
Gordon McHarg, co-founder and chief executive of AutoRek, said: “We are delighted to have SEP on board as an investment partner to continue the successful evolution of the AutoRek business.
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