Phoebus Software Limited
Phoebus Software Limited (PSL) develop and service software to manage asset-lending in the financial services sector across the UK and Ireland.
Headquartered in Solihull, West Midlands, PSL has a strong client portfolio of multinational financial services firms across the building society, banking and loan servicing sectors, including Atom Bank, One Savings Bank and Pepper.
NorthEdge Investment Rationale
The opportunity to back the management buyout of PSL was a compelling one, based on the quality and experience of Paul Hunt (CEO) his senior team. The business has historically grown well, having developed a robust back-end platform which provides mission critical capabilities into a range of clients within the financial services industry.
We intend to support the management team with capital to invest into the technology stack – enabling a modernisation of the architecture and development of further ‘product’-like software. We will also support Paul Hunt to invest in his team, starting with Andy McEwan, formerly of Oracle and IFE Services, who joins the business as Non-Executive Chair.
Paul Hunt, CEO at PSL, commented:“After sustained growth and success over many years, our business is ready to move to the next level. In working with NorthEdge, we have an investment partner who will provide backing to ensure that our products and services continue to be at the forefront of market requirements.”
Andrew Skinner, Director, NorthEdge, commented: “It’s clear to see that the team at PSL is valued by their clients and have built a strong reputation over many years. We look forward to supporting Paul and his team through further investment in product capabilities, to execute on an exciting growth strategy centred on delivering great systems into their high-growth client-base.
“This is the latest regional tech company we have backed, following on from our investments in Sumo Digital, Utiligroup, Cloud Technology Solutions, Cubic Motion, Pimberly and iPortalis. We are proud to continue building upon our successful track record of playing a part in the growth, internationalisation and development of UK-tech, through our support of Paul and the team at PSL.”