FPE, Bestport make 4.2x return on Creditcall sale to NMI

Kenny Wastell
21 February 2018

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FPE Capital and Bestport Ventures have sold UK-based digital payments software developer Creditcall to US trade buyer Network Merchants (NMI), a portfolio company of Francisco Partners and Great Hill Partners.

The sale represents a 4.2x return for the vendors following a six-year holding period.

Under the tenure of FPE and Bestport, the business invested in product development and expanded internationally, with a particular focus on the US market. It also expanded its products range, from an initial focus on payment functionality in parking, ticketing, transportation and vending, into new market verticals including retail and hospitality.

Creditcall has trebled its headcount since 2012 and increased its revenues by an average of 40% per year, according to a statement.

Previous funding
FPE (then known as FF&P) and Bestport acquired a majority stake in Creditcall in March 2012.

Company
Founded in 1996, Bristol-headquartered Creditcall develops digital payment processing software. It has a headcount of 100 and its products are used across 37 countries.

Creditcall generated a turnover of £8.2m in the year ending in March 2017, according to publicly available documents, with an operating loss of £620,000.

People
FPE Capital – David Barbour (managing partner); Dan Walker (partner).
Bestport Ventures – James Stoddart (partner).
Creditcall – Lars Pedersen (CEO).

Advisers
Vendor – Arma Partners (corporate finance); Charles Russell Speechlys (legal).
Acquirer – Kirkland & Ellis (legal).