PSL develop and service software to manage asset-lending in the financial services sector across the UK and Ireland.
Headquartered in Solihull, West Midlands, PSL has a strong client portfolio of multinational financial services firms across the building society, banking and loan servicing sectors, including Atom Bank, One Savings Bank and Pepper.
NORTHEDGE INVESTMENT RATIONALE
The opportunity to back the management buyout of PSL was a compelling one, based on the quality and experience of Paul Hunt (CEO) his senior team. The business has historically grown well, having developed a robust back-end platform which is providing mission critical capabilities into a range of clients within the financial services industry.
We intend to support the management team with capital to invest into the technology stack – enabling a modernisation of the architecture and development of further ‘product’-like software. We will also support Paul Hunt to invest in his team, starting with Andy McEwan, formerly of Oracle and IFE Services, who joins the business as Non-Executive Chairman.
20 June 2019
NorthEdge Capital has backed the MBO of Phoebus Software Limited (“PSL”), marking the second investment from NorthEdge’s SME Fund I (“SME Fund”).Find out more