ThinCats, the leading alternative finance provider to mid-sized SMEs, has provided a significant funding package to Ventiga Capital backed Retail Insight, a provider of store-focused solutions in retail operation analytics to global retailers and CPG companies.
Retail Insight (“RI”) provides analytical SaaS solutions that help retailers and consumer packaged goods suppliers drive operational excellence, enabling stronger like-for-like sales, improved margins and increased customer loyalty. The group serves the world’s largest retailers and processes over 10% of worldwide grocery sales.
Ventiga Capital Partners backed RI in 2019 to take advantage of the significant market opportunity and alongside founder and CEO Paul Boyle, has successfully scaled the business since acquisition.
The facility will be used to refinance existing debt and fund working capital to support the continued growth of the business. The funding solution offers flexibility through a significant portion of the facility being a rolling credit facility, allowing the company to optimise working capital during in the next phase of growth.
The transaction was advised by BDO.
Paul Boyle, CEO, Retail Insight, commented; “It’s an exciting time for RI, we continue to innovate for our clients, helping the world’s best retailers and leading category kings harness the power of their data to maximize their full store potential. Neil and the team at ThinCats took the time to really understand our vision for the future, making them the ideal funding partner to support us through our next phase of growth.”
Neil Patel, head of national sponsors, ThinCats, said: “We are delighted to have worked with Paul, and the expert teams at Retail Insight and Ventiga Capital on this transaction. RI is a thriving SaaS business helping retailers and CPGs around the world maximise their potential through their leading-edge technology, and we look forward to seeing their continued growth.”
