BGF injects £3.2m into Lightfoot

The fresh capital will fund the launch of the company's consumer service, with Lightfoot having previously focused on serving corporate clients with fleets of road vehicles. It will also pursue international expansion and look to double its headcount by the end of 2019.

As part of the deal, Lightfoot has appointed former Dyson CEO Martin McCourt (who also took part in the round) as its non-executive director. BGF investor Ned Dorbin will also take a seat on the company's board of directors.

Company
Founded in 2013 and headquartered in Chudleigh, Devon, Lightfoot provides drivers with telemetry devices that measure the quality of their driving. It then rewards good driving with discounts on insurance, dining, high-street shopping and holidays, in addition to allowing users to enter competitions and leagues to win prizes and cash.

According to a statement, Lightfoot is used by around 20,000 drivers and has around 150 corporate clientsm, including Virgin Media, Dixons Carphone, Southern Water, Ecotricity, Greencore and Dyno Rod. The company says its products help reduce emissions by 20% and at-fault accidents by around 40%.

People
BGF – Ned Dorbin, Edwin Davies, James Skade (investors).
Lightfoot – Mark Roberts (founder, CEO).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• BGF (Business Growth Fund)