TA Associates has made returns of 3.3x its money through a sale of credit hire company Drive Assist UK Ltd to Charterhouse Capital Partners. The enterprise value of EUR 380m will reap an IRR of 44% for the investor which decided to exit following pro-active interest expressed by Charterhouse Capital Partners.
Danish VC Heartcore Capital, UVC Partners and existing investor Picus Capital also take part
Deal is an extension of the $4.1m series-A funding round led by Blossom Capital in October 2019
Fresh capital will help the provider of cloud access services expand in western Europe
DBay has also negotiated a new revolving credit facility for the transport and logistics company