Software firm secures £1.25m investment

SOFTWARE firm eTech plans to accelerate its growth after receiving £1.25m investment from Finance Birmingham.

The Shirley-based firm employs more than 140 people, having doubled its workforce in less than two years, and grown turnover to £7.2m.

ETech provides a software solution to customers in the energy assessment and mortgage valuation sectors. It intends to recruit additional developers and support staff following the investment.

The funding will support product development in new and existing markets and be used to increase its presence in the surveying and lending sector.

Jim Driver, managing director at eTech Solutions, said: “eTech is very much the sum of its people and as the business grows, we need to continue to invest in the best possible staff to create new products that solve the day-to-day issues our customers face. The funding will enable us to fast-track that process.”

The funding is from Finance Birmingham’s £56m Mezzanine Fund, which is supported by the Regional Growth Fund.

Ian Fairclough, investment director at Finance Birmingham, added: “We are backing an ambitious management team who over the past 10 years have established eTech to be a Software as a Service business of genuine scale and capability.

“The continual product development and willingness to respond to customer requirements is a core strength of the business and underpins eTech’s ability to help its customers deliver efficiency and profitability from their operational activities.”