During FPE’s investment, the business pivoted to prioritise product leadership and ARR growth, which led to Creditcall’s revenue growing from £3.6m to £10.2m. At that point it was acquired by NMI, a US based payments provider backed by Francisco Partners and Great Hill Partners, returning 4.2x to Creditcall’s investors including FPE and the founding team.
Prior to our investment in 2012, Creditcall was a small (£3m revenue) business focused predominantly on providing solutions in the parking sector. We invested to provide liquidity to a long-tail of angel shareholders, re-incentivise the company’s senior team, and provide capital for the next stage of growth.
We then supported Creditcall over the course of our investment period by:
Overseeing a successful planned CEO transition and supported the business to hire a new Chair, CFO, VP Sales and Head of Product Management
Investing heavily in the engineering team, and developing products needed to serve additional unattended verticals (e.g. retail and hospitality, ticketing)
Investing heavily in organisation; head office was upgraded to attract and retain staff an total headcount increased from 32 to 110 to support growth
Launching in the US to take advantage of a once in a generation change to chip based EMV credit and debit cards
Lars Pedersen (CEO) It has been critical to Creditcall’s development to partner with a growth-minded investor like FPE who has supported high levels of investment in the business and a focused organic growth strategy
