Inflexion invests in WithWise

Following the investment, WithWise intends to increase the range of services that it provides to its existing customers. In addition, the company plans to expand its software platform to new sectors.

The GP is investing via Inflexion Enterprise Fund V. The vehicle held a final close in May 2019 on its hard-cap of GBP 400m, and invests in UK-based lower-mid-market companies, taking both minority and majority stakes, and deploying equity tickets of GBP 10m-35m.

The fund's investments to date include automotive data management software Autofutura and automotive e-commerce platform GForces; Inflexion announced the combination of the two companies in April 2021.

The increased need for staff in market segments including e-commerce and delivery services during the coronavirus pandemic has benefited a number of technology-based startups. Spain-headquartered Jobandtalent, a platform that helps companies to source temporary workers by connecting businesses with potential candidates, has raised two funding rounds over the course of the pandemic, the latest of which was a USD 500m Series E led by Kinnevik, as reported.

Company
WithWise is a software platform that aims to assist logistics companies with engaging and managing a self-employed workforce, covering topics including onboarding, compliance and document storage. The company serves last-mile delivery providers who work with carriers including Amazon, DPD and Hermes. WithWise is used by 250 logistics firms in the UK with a total of 14,000 self-employed drivers. The company was founded in 2019 and is headquartered in London.

People
Inflexion – Sergio Ferrarini (partner); Kristina Miettinen (assistant director); Cameron Lenton (investment executive).
WithWise – Simon Hills (CEO).

Advisers
Equity – EY (commercial due diligence); Deloitte (financial due diligence); Eversheds Sutherland (legal).
Vendor – Fieldfisher (legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Inflexion Private Equity