HgCapital buys majority stake in IntelliFlo
HgCapital has acquired a majority stake in software company IntelliFlo via its Mercury Fund.
The vehicle targets software and technology companies with enterprise values of £20-80m across western Europe.
The firm intends to develop its product offering with the fresh capital.
The IntelliFlo management team retains a significant share of the company following a reinvestment.
Company
Founded in 2004 and based in Kingston-upon-Thames, IntelliFlo is a software-as-a-service (Saas) provider to the financial services sector. The company's solutions aim to reduce infrastructure costs and enable full remote access. Almost 10,000 advisers and administrators use the firm's software on a daily basis to respond to consumer and regulatory requirements.
People
Matthew Brockman leads HgCapital's Mercury team.
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