UK SAP partner receives £11.6m funding

Reading-based firm says investment will be used to scale via acquisitions

SAP partner Invenio Business Solutions has received an £11.6m investment to help it grow via acquisitions.

The Reading-based firm has been given the cash injection from UK investment firm Business Growth Fund (BGF).

Invenio CEO Arun Bala (pictured) said: "Invenio was set up on the core values of exceptional customer focus, deep industry and technology expertise, transparency and employee care.

"Our core values, a unique culture and a highly valued customer engagement model have helped us grow over the last 13 years and maintain deep relationships with our clients.

"We are delighted to have BGF on board for the next stage of our journey and are looking forward to making the most of the team's expertise in this space. BGF's investment will help us continue to invest and grow to meet demand, while keeping control of our business and staying true to our values."

Invenio recently featured in CRN's Rising Stars report, boasting a margin of 21.7 per cent and a net profit of £5.5m from sales of £25.5m.

Bala told CRN that the firm now rakes in 70 per cent of its revenue from overseas, from offices in India, Mauritius, Saudi Arabia, Fiji, the US and the Middle East. Key customers include the Universal Music Group and the BBC.

Invenio plans to scale its offering by improving the services it offers and through acquisitions.