Alantra advises Proactis on investment from AshGrove Capital
London – Alantra, the independent global mid-market financial services firm, has advised Proactis, a leading Source-to-Pay software solution provider, on an investment from AshGrove Capital (AshGrove), with continued support from its existing shareholders Pollen Street Capital and DBay Advisors.
The new funding supports plans to grow the UK, European, North American and APAC businesses both organically and via acquisition, with this endorsement affirming the strength and robustness of Proactis’ solutions and clear growth potential.
Proactis Rego is an intelligent Source-to-Pay software platform specifically designed to manage public sector, private sector and not-for-profit service-based spend. Proactis will continue to enhance its platform with AI and machine learning capabilities, increasing user productivity as well as supporting customers with meeting the evolving compliance landscape such as the Procurement Bill and eInvoicing regulations.
Proactis and Pollen Street Capital were advised by Andrew Lynn and James Jewers.
Andrew Lynn, Managing Director at Alantra, said: “We are delighted to have advised both Proactis and Pollen Street Capital in this process and, in AshGrove, have delivered a lender with strong sector knowledge, providing the ideal long-term partner to support future growth.”
Stephen Line, CEO of Proactis, said: “We are excited to partner with AshGrove, and thrilled by the potential this investment brings. It will strengthen our position to continue supporting our customers in a dynamic and changing market.”
David Dawson, Partner at Pollen Street Capital, said: “The Alantra team supported us throughout the process and helped deliver a flexible financing solution with a long-term partner. The new structure will help Proactis to continue executing on its exciting growth plan.”