Moneypenny receives significant investment from ECI partners to support global growth plans
Moneypenny, the world's leading outsourced communications provider, is pleased to announce it is partnering with private equity investor ECI Partners to help drive the next stage of the Company’s growth. ECI’s significant investment will support Moneypenny’s ambitious plans to substantially grow its turnover by expanding across its core markets in the UK and US. The details of the transaction are not being disclosed.
Moneypenny is the market leader and fastest growing company in its sector, with 700 staff and £33 million turnover. It delivers outsourced telephone answering, live chat, switchboard and a host of technology-enabled services to a wide range of businesses, from sole traders to multi-national corporations. Moneypenny handles 15 million calls and chats annually for more than 13,000 clients in the UK and US.
Demand for Moneypenny’s services is growing at a significant rate as business owners continue to look at ways to improve how they interact with customers, and to maximize operational efficiencies. Moneypenny meets this demand by combining cutting edge voice-based technology with a team of highly trained and knowledgeable receptionists.
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, commented: “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 co-founders Ed Reeves and Rachel Clacher and Joanna Swash, Managing Director, in the development of Moneypenny over the next stage of its journey.”
ECI was advised in this transaction by EY, Squire Patton Boggs, EY-Parthenon and Marsh.
Moneypenny was advised by GCA Altium and DLA Piper and supported by EY and PWC.