The company behind one of the UK’s leading employee benefits platforms, Zest Technology, has just completed its buyout from Fintel plc (formerly SimplyBiz).
Commenting on the buyout Zest CEO, Ray Sieber (pictured), said: The recent strategic refocus by Fintel on its core traditional businesses presented the opportunity to find a new partner that would support and propel the business through its next stage of growth, allowing us to take hold of the many opportunities that are in front of us in the market and establish Zest as the undisputed standard for employee benefits software.”
FPE Capital LLP, a private equity house focussed on growth technology businesses, has chosen to invest in Zest. FPE is already experienced in the wider HCM (Human Capital Management) sector, having supported many businesses in the sector through significant and rapid growth.
“We are delighted to be partnering with FPE, whose expertise in successfully scaling SaaS businesses, and especially those within HCM, will be very valuable,” continued Sieber. “Their experience of international expansion is also highly impressive and we are excited to be working with such a committed partner to grow Zest further.
“This is another huge milestone in our journey and a fabulous opportunity to grow the business. It’s also created a fantastic opportunity for our dedicated and talented team of people who will be crucial to help us achieve that growth and will undoubtedly create new opportunities and challenges for everyone,” concluded Sieber.