Private equity firm ECI Partners has invested in Moneypenny, an outsourced communications provider.
Moneypenny provides outsourced telephone answering, live chat, switchboard and other technology-enabled services to a wide range of businesses from sole traders to multi-national corporations.
The business handles 15 million calls and chats a year for more than 13,000 clients in the UK and US. It has 700 staff and an annual turnover of £33 million.
ECI's investment will be used to help Moneypenny substantially grow its turnover by expanding across its core markets in the UK and US.
Ed Reeves, Co-Founder of Moneypenny, said: “We’ve such an exciting time ahead of us; we’re the market leaders, we’re growing incredibly quickly, and we continue to innovate, developing new technology such as our AI-enabled switchboards, to help our clients improve the service they offer their customers. That’s what makes Moneypenny stand out from the crowd. Today’s investment from ECI will enable us to take all of those elements and scale them up even more quickly for both our UK and US businesses.”
Mark Keeley, Partner at ECI Partners, added: “ECI is delighted to be partnering with Moneypenny to help it achieve its global growth ambition. The combination of market leading technology, a high calibre management team and culture of delivering excellence mean that Moneypenny is a very exciting opportunity which we are delighted to be a part of. We look forward to supporting Moneypenny over the next stage of its journey.”