PayPoint PLC pays £1m for Chester-based fintech business

James Caplan of Maven with, Andrew Bonsall and Stephen Ashworth of AperiData

Multichannel payments business PayPoint has paid £1 million for Aperidata, a Chester-based consumer and business credit reporting and Open Banking platform. 

The deal will see the PayPoint Group building on an existing commercial partnership between the two companies delivering Open Banking solutions for clients across multiple sectors, including government, local authorities, charities and housing associations.

Aperidata have been working closely with PayPoint on a project with Citizen’s Advice Stevenage, launching an Open Banking driven Customer Support Tool, which has cut the time spent by Debt Advisor’s gathering and reviewing financial information of individuals seeking help, from an average of three weeks per case to just minutes.

The deal represents an exit for private equity investor Maven which has realised its investment in AperiData.

NPIF – Maven Equity Finance, which is managed by Maven and is part of the first Northern Powerhouse Investment Fund, invested in the Chester-based business to enable commercialisation, expand its portfolio of customers, enter new markets and create jobs.

Steve Ashworth, CEO of AperiData, said: “The UK credit score model is over 50 years old with little innovation over the years. AperiData is solving tangible problems in 2024 with a digital-first solution that gives any user a real time P&L on consumers and businesses. Any time, any place – you’ll know the financial position in real-time. The ubiquity and simplicity of our API service has surprised many with use cases spanning Financial Services, Utilities, Housing and most recently Debt Advice.”

Tom Parton, Investment Manager at Maven, said: “We are happy to see AperiData partner with PayPoint. Today’s transaction is a major step for the company and for Steve and Andy, who worked hard to launch AperiData. We wish them and the PayPoint team, market leaders in multichannel payments, all the best. At Maven, we focus on adding value to companies with clear and credible strategies for growth. This exit is another example of our ability to identify high-potential businesses from the earliest of stages.”

Debbie Sorby, Senior Manager at British Business Bank, said: “AperiData’s journey from its pre-revenue stage to its partnership with PayPoint Plc showcases how investment from the first Northern Powerhouse Investment Fund can be the catalyst to accelerate businesses in their growth journey. AperiData is a prime example of how strategic investment can enable a company to scale in new markets. The success of the business will have a wide-reaching impact, revolutionising the credit reporting and open banking sectors, whilst driving economic growth across the North.”

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