Up to 40 new jobs are set to be created after Saltaire-based Fleetondemand secured a £5m investment from BGF.
BGF is acquiring a minority stake through its investment in the fleet and mobility tech firm and the new roles will be spread across two locations in Saltaire and Leeds.
The Leeds office, based at Brewery Wharf, will house developers and become the firm’s technology development centre of excellence. The office at the heritage Festival Building in Saltaire will continue as the Fleetondemand head office.
As well as new local jobs, the investment will also be used to fund product development, as well as rapidly accelerate Fleetondemand’s sales strategy in the UK and a pan European launch in 2019.
Justin Whitston, chief executive of Fleetondemand, who was born and bred in Bradford, previously founded Nexus Vehicle Rental in 2000, which he successfully established as the UK’s largest independent broker of vehicle rental to business.
He was responsible for building and delivering the leading proprietary SAAS technology solution, prior to exiting to Living Bridge, via a multi-million pound buy-in management buyout.
Mr Whitston said: “I’ve successfully created two market-leading businesses from a standing start and have employed hundreds of people since 2000.
“I’m extremely proud of my heritage and I am looking to keep on scaling the business from our Yorkshire base.
“This investment deal is testament to the incredible team of people we have across our business who continue to drive innovation and development of our technology platforms.
“We see direct penetration into the vehicle hire and business travel sectors as being a key part of our strategy, alongside our unique capabilities across our Mobility-as-a Service technology, which is first to market.
“It’s a hugely exciting time for our business and we look forward to working together with BGF to deliver our growth potential over the next three years.”
Chris Boyes, who led the investment for BGF, said: “Fleetondemand already provides software to many of the world’s largest fleet operators.
“The company has delivered consistent growth historically which has allowed for significant investment into their market-leading Mobility as a Service technology. We are excited to be working alongside Justin and the team as they grow the business.” Fleetondemand is well-regarded as a technology company in the fleet and Mobility-as-a-Service space.
It features Mobilleo, an innovative multi-platform which connects thousands of business people to vehicle rental, car leasing, business travel and transportation services globally.
The technology does not just search thousands of car hire, train, flight, accommodation, taxi providers across the UK, it goes further by showing the user the total cost of a journey for each alternate travel route so businesses can compare which method of transport is cost effective.
The team at Fleetondemand have plugged into suppliers across the country for car hire companies, train operators, fleet vehicle management systems and even hotel booking engines.