UK private equity house Inflexion has made a minority investment in logistics software provider WithWise through Inflexion Enterprise Fund V.
Wise was founded in 2019 to cater the fast growing e-commerce market by providing software to support last-mile delivery providers who work with carriers such as Amazon, DPD and Hermes. Its clients include 250 UK logistics firms and 14,000 self-employed drivers.
The firm said its investment will support Wise as it continues to grow rapidly and offer more services while expanding into new sectors.
Simon Turner, managing partner at Inflexion, said, “In a short space of time Wise has established itself as an emerging champion within this high growth, specialist software niche. An explosive e-commerce market combined with Wise’s market-leading offering make the business extremely well placed to continue its impressive growth.”
£5.4bn-managing Inflexion closed its 1.25bn Buyout Fund V in May 2018, at the same time as closing its £1bn Partnership Fund II.
AltAssets exclusively revealed in April that the firm was raising the successor to its £1.25bn Fund V – and had picked up a sizeable commitment from a major US pension fund.
Fund IV is said to be aiming £2bn, which will be 60% larger than Fund V.
The firm passed £1bn of new investment for the year after backing fire detector testing equipment maker Detectortesters in September.
It recently sold Kynetec to Paine Schwartz Partners, which AltAssets understands scored it a 3x return.
