New industry experts on executive team broadens addressable market.
Working capital finance software provider, Lendscape, has acquired leading software implementation consultancy, Finaptix, in a move to address the asset finance sector, extending its LendScape platform to all forms of secured lending.
The deal adds industry experts Steve Taplin and Michael Mayes to the executive team that includes Kevin Day, CEO, along with Andrea Cole, previously Product Director of LendScape. Together they will support the company’s further expansion and rounds off a year which saw personnel increase by 19%.
Lendscape is set to be the first technology vendor to deliver a combined solution for asset based lending, working capital finance and now also commercial and consumer lending, including equipment and auto finance. The LendScape SaaS proposition is easy to deploy and clients can access new expert consulting to make implementations fast, efficient and cost effective.
The new team brings the sales, operational and technology experience needed to meet increasing demand from banks, which favour enabling software platform providers over off-the-shelf products to meet their wider finance market needs.
Tony Davison, Chairman of Lendscape commented: “We have the right team to accelerate international expansion and are well positioned to enter and service two of the most profitable markets in the secured lending space.”
Kevin Day, CEO of Lendscape said: “This equips Lendscape with the technological advantage to deliver a broader platform offering to that of our competitors in both existing and new markets. I look forward to working with Steve and Mike and leverage their significant experience to help scale the company.”
Steve Taplin added: “We recognised that the company had ambitions in a number of business lines and with our specific expertise, we could help build a compelling proposition to financial institutions tapping into a broader market.”