HgCapital has announced a majority investment in Intelliflo Limited. The investment was made from its Mercury Fund which was raised to specifically target software and other technology companies across Europe.

Intelliflo is one of the leading SaaS (Software as a Service) providers of front and back office software to Financial Advisors, Advisor Networks and Brokers.  Led by CEO Nick Eatock, the business combines a decade-long track record in the UK market, with a best in class SaaS product and significant capability created by investment ahead of the Retail Distribution Review (RDR).  Nearly ten thousand advisors and administrators use IntelliFlo’s software on a daily basis to manage front and back-office workflows and to quickly respond to consumer and regulatory needs.

This investment continues HgCapital Mercury’s investment strategy of partnering with great management teams in market-leading vertical application software companies.  This transaction has allowed for a transition in the ownership IntelliFlo, with the senior management, led by Nick Eatock, retaining a significant interest in the business.

Commenting on the investment, Matthew Brockman, who leads HgCapital’s Mercury team, said: “With a strong management team, an outstanding product and highly recurring revenue, the team at Intelliflo have built a really great business. We look forward to supporting the company as it continues to innovate within a dynamic end market.”

Nick Eatock, CEO of Intelliflo, said: “I am delighted to be partnering with HgCapital for the next stage of development of Intelliflo. With the support of an expert investor, we intend to continue to invest and deliver even better products for our customers in the post-RDR era.  I am also delighted that the wider team is re-investing with me and wish to thank my departing co-founder Jamie Coats for his personal contribution to making Intelliflo the successful business that it is today.”

The transaction is anticipated to close in early August and represents the second investment for the HgCapital Mercury fund.