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27th August 2019

Female tech team secure £950k investment for rebate and pricing platform

Two female tech entrepreneurs who have developed the UK’s first software as a service (SaaS) platform to help companies manage rebate and pricing schemes have secured £950,000 from investors.

Leanne Bonner-Cooke MBE and Colette Wyatt have received funding from Mercia Asset Management, the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, and private investors. The funding will allow them to expand their sales and marketing activities and roll out e-BateÒ to a wider audience, creating new jobs at their office in Leicester.

Leanne is also founder and Chairman of Evolve-IT Consulting, which develops bespoke software. She has won a wide range of business awards and was made an MBE in the New Year’s Honours List in 2017 for her services to women in business. Colette, who has 30 years’ experience within the telecoms and IT industries, joined Evolve in 2015 as Chief Technology Officer and has spearheaded the development of e-Bate.

Through their work in building bespoke rebate management software for large companies, they recognised that there was a gap in the market for an affordable off-the-shelf solution. e-Bate is designed for buyers or suppliers which either pay or receive rebates, commissions, bonuses or incentive schemes, in particular those in the pharmaceuticals, manufacturing, consumer goods and construction industries.

The e-Bate platform allows companies to overcome the complexities involved in managing such schemes by automating the process, helping to reduce overheads, manage pricing and increase revenues and profit while ensuring compliance through a full audit trail and comprehensive approval workflows. A key advantage is the ability to implement e-Bate in as little as 16 weeks and it is already being used by companies such as Norbrook Pharmaceuticals, which has rolled it out globally.

Leanne Bonner-Cooke said: “Many large corporations have rebate deals between themselves and their suppliers, and on both sides a lot of money is left on the table as rebates are not effectively accounted for or claimed due to poor rebate management. e-Bate solves this problem. These funds will allow us to further commercialise the product and build our team while we continue to develop new features.”

Sandy Reid, Investment Manager at Mercia said:e-Bate is an exciting product with a huge potential market and a founder team of exceptional quality. It is also great to see women in tech coming forward for funding and we hope this will encourage others to do so, to help us break barriers and change the landscape once and for all.”

Ken Cooper, MD at British Business Bank said: “It is great to see companies like e-Bate taking advantage of the funding offered by the Midland Engine Investment Fund.  MEIF is backing innovative companies to launch products, create job opportunities and enter new markets.  It can provide finance where other funding may not exist and is able to invest across a diverse spectrum of entrepreneurial businesses.”

Kevin Harris, Chair of the Leicester and Leicestershire Enterprise Partnership said: “Innovation is the key to a growing local economy, so I’m delighted that yet another innovative business from Leicestershire has secured significant investment. At the LLEP, we look to sign-post businesses toward the investment they need. It’s fantastic that e-Bate’s founders have managed to link up with Mercia to secure their business for the future.”

Tom Gray of Fraser Brown provided legal advice to Mercia on the investment. The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

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Follow @midsenginv


The #MEIF Quick Reference Guide breaks down the different types of finance available through the Fund and the types of businesses best suited to each. Download it here - https://t.co/RngOaJw0eV https://t.co/EvAftZBCy7 MidsEngInv photo

The @BritishBBank has today released its Small Business Finance Markets Report 2020. Key findings include #MEIF supporting 20% of equity deals in the #Midlands, helping the region's businesses unlock new growth. Read #SBFM2020 here - https://t.co/W32Uh2aPWG https://t.co/MLDHvnredp MidsEngInv photo

20% of equity deals in the Midlands supported by the #MEIF - revealed in the @BritishBBank's #SBFM2020 Report released today - https://t.co/W32Uh2aPWG https://t.co/bCrbzCeChd
MidsEngInv photo
British Business Bank @BritishBBank
Our regional funds, @MidsEngInv and @NPIFBBB, have contributed 20% and 16% respectively to equity deal numbers in the North & Midlands #SBFM2020 #LevelUp

Download the full report now
👉 https://t.co/pSuiMCJXle https://t.co/VzV0nikT14

Growth Hubs are centres for business support, connecting firms to the right help for their needs. With 10 located across the Midlands, find your nearest here - https://t.co/47oT5NP7xK https://t.co/gW78zLZ8Ym MidsEngInv photo

Supporting innovation is a key priority for the #MEIF, with the Fund investing £150k in Birmingham-based @aceleronenergy – a firm developing cutting edge battery technology. In the video below, CEO Amrit Chandan explains how the funding supported the firm’s #Growth https://t.co/im8hET5eGZ

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