GCA Altium advises Mobysoft on its investment from ECI
Founded in 2003 by Derek Steele, Mobysoft is headquartered in Manchester, UK. Their flagship product, RentSense, is a Software as a Service (SaaS) based predictive analytics tool which helps social housing landlords manage arrears collection more efficiently. Using a range of data, including historic trends, RentSense’s algorithms flag potential issues to social housing officers, saving them time, improving efficiency in rent collection, and cutting arrears by tens of millions of pounds a year. The software is used by over 140 social landlords, representing around 32% of the sector in the UK.
The funding will be used further accelerate the company’s growth and product development in the social housing sector and Livingbridge, who first invested in Mobysoft in 2017, have also reinvested in the business.
The investment by ECI will help Mobysoft develop other predictive analytical solutions for social housing providers whilst also further optimising landlords’ returns with RentSense, as Alexander Karle, CEO of Mobysoft, explains: “We are delighted to partner with ECI to deliver future growth for the business and further support social housing providers and their tenants. For Mobysoft and our customers, this partnership means that we will accelerate investment into new products and services while continuing to strengthen our existing products. ECI has a strong track record supporting fast-growing software businesses and we are excited about the opportunity ahead. We’d also like to thank Livingbridge for their partnership over the last three years and look forward to their continued support.”
GCA Altium acted as exclusive financial advisor to the shareholders of Mobysoft in connection with this transaction having previously advised the business on securing investment from Livingbridge in 2017 and then again on a refinancing in 2019.
Derek Steele, Founder and Chief Innovation Officer at Mobysoft, commenting on this partnership with GCA Altium, said: “It has been a pleasure to work with GCA Altium once again. All the shareholders are delighted with this outcome and the GCA team have been integral to achieving this. Their advice and support were faultless throughout.”