ECI-backed Make It Cheaper acquires Think Business Finance
ECI Partners portfolio company Make It Cheaper (MIC) has completed the acquisition of lending platform Think Business Finance (TBF).
This is MIC's fourth bolt-on since ECI's initial investment in 2017. Most recently, the company bolted on Smart Utility Management in July 2019.
The founders and management team of TBF will be staying on to run the business.
ECI is invested in MIC via ECI 10, a £500m vehicle that held a final close in September 2014. The fund was 89% deployed as of December 2018, according to Unquote Data.
Company
Headquartered in Chelmsford, TBF is an online platform that acts as an intermediary between businesses and finance providers. Founded in 2012, the company offers commercial property lending, asset-based lending, invoice finance, and unsecured, short and medium-term financing. The platform has over 200 lenders registered.
People
ECI Partners – Richard Chapman (partner).
Make It Cheaper – Paul Galligan (CEO).
Think Business Finance – Jamie Stewart (CEO).
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