YFM backs £3m BIMBO of Insider Technologies

The GP invested through the British Smaller Companies VCT and British Smaller Companies VCT2 vehicles.

The fresh investment will enable the team to develop a sales and marketing function and create employment positions.

Company
Established in 1989 and headquartered in Salford Quays, Insider Technologies provides software products that can track and monitor payments in real time in retail and investment banks. The firm also provides high security tracking for government and defence organisations.

Clients include The Bank of England, Barclays Bank and HSBC. The firm employs 28 members of staff.

People
Ian Cameron is an investment director at YFM. Richard Lauder is joining Insider Technologies as executive chairman as part of the transaction. He was previously president of ACI Worldwide and has worked in the IT industry for 40 years.

Advisers
Equity – DWF, Phillip Whitehurst, Richie Dingley (Legal); BDO, Chris Heatlie, Steven Kingham (Financial due diligence); Anthemis Edge, Samantha Giotti (Commercial due diligence).
Management – Cobbetts, Sean FitzGerald, Laura Lovell (Legal).

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