Bowmark Capital, a private equity firm, has invested in Lendscape, a leading technology provider for the commercial finance market.
Lendscape’s software and technology are used by 120 banks and financial institutions. Its platform is used in the management of over $200 billion of lending annually.
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Founded in 1972, Lendscape specialises in proprietary technology and secured lending as finance providers scale and digitalise their operations.
Tony Davison, the company’s founder and chairman, said: “Bowmark shares our vision for the business and, with their help and support, we will accelerate our plans for innovation and increase our global reach, bringing advanced technology solutions to more secured finance providers worldwide.”
Tom Shelford, partner at Bowmark, commented: “We look forward to working with the team to support the company’s next stage of growth through investment in product development, international expansion and strategic acquisitions.”
Kevin Day, Lendscape chief executive, said: “Bowmark’s investment will help us to shape the future of commercial lending and enable providers to keep pace with customers’ evolving needs.”
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By GlobalDataGlobal deals advisory firm Alantra acted as lead adviser to management during the transaction.
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