Sandton invests £10m in Nextbase

The London and New York-based private equity firm makes investments of $5-150m.

This is Nextbase's first round of institutional funding.

Sandton's investment will be used to accelerate the implementation of new technologies, including 4G/5G functionality, and the development of automotive and insurance products and services. The investment will also fund expansion in North America and new international territories.

Company
Surrey-based Nextbase was established in 1999 to design and manufacture portable entertainment systems. It has since released a range of dashcams with several high street retailers. The firm also operates a technical support centre in Caerphilly, South Wales.

The company's revenues have grown by 30% per annum in each of the last five years and will be approximately £62m for the 2019/20 financial year.

People
Sandton Capital Partners – Matt Meehan (UK head).

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