A Solihull software firm is eyeing a new chapter of growth after agreeing a £1.25 million funding deal.
eTech, which provides management software and mobile applications to energy suppliers and residential property businesses, has secured the capital from funding stream Finance Birmingham.
Shirley-based eTech said it planned to use the cash injection to develop its existing products and generate additional business in the surveying and lending sector.
Over the past three years, eTech says it has invested heavily in developing and launching applications aimed at improving 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, intends to recruit additional developers and support staff following the investment.
Managing director Jim Driver 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 capital has been provided from the £56 million 'Mezzanine Fund', managed by Finance Birmingham, which is open to small companies across the West Midlands and is supported by the Regional Growth Fund.
Ian Fairclough, investment director at Finance Birmingham, added: "We are backing an ambitious management team who, over the past ten 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."
