- Funding will support product development in new and existing markets
- Company supported by the £56m Mezzanine Fund, supported by the Regional Growth Fund
The £1.25m funding, provided through Finance Birmingham, will enable Shirley-based eTech, which provides an end-to-end software solution to customers in the Energy Assessment and Mortgage valuation sectors, to further develop its existing product offering and generate additional traction in the surveying and lending sector.
Over the past three years, eTech has invested heavily in developing and launching applications to improve the way residential surveying firms schedule jobs, perform property valuations, store the valuation data and report that information back to lenders.
The firm, which currently employs more than 140 people at its offices in Shirley, intends to recruit additional developers and support staff following the investment. eTech has more than ten years’ experience serving a wide range of organisations including British Gas, npower, First Utility, Direct Valuations and e.surv.
Jim Driver, Managing Director at eTech Solutions, said:
“eTech is very much the sum of its people and as the business grows, we need to continue to invest in the best possible staff to create new products that solve the day-to-day issues our customers face. The funding will enable us to fast-track that process.”
The funding has been provided from the £56m Mezzanine Fund, managed by Finance Birmingham, which is open to SMEs across the West Midlands and supported by the Regional Growth Fund.
Ian Fairclough, Investment Director at Finance Birmingham, said:
“We are backing an ambitious management team who over the past 10 years have established eTech to be a Software as a Service business of genuine scale and capability. The continual product development and willingness to respond to customer requirements is a core strength of the business and underpins eTech’s ability to help its customers deliver efficiency and profitability from their operational activities."