Convey Technology secures strategic investment from Tresmares Capital
Convey Technology, the driver and vehicle compliance specialist, has announced a new strategic partnership with investment firm Tresmares Capital, following a minority investment that will support the next stage of Convey’s growth.
The backing will help the Convey platform to continue to develop, the company says, as well as expanding its capabilities and exploring selective acquisition opportunities to strengthen the services it provides to fleet operators across the UK.
Founded in 2016 by Steve Fisher and based in Wiltshire, Convey provides a web-based software-as-a-service (SaaS) platform used by more than 3,600 commercial fleet operators across the UK.
The platform manages hundreds of thousands of vehicles and assets, and supports operators with all aspects of driver and vehicle compliance, safety and operational efficiency.
Convey provides a connected suite of modules covering tachograph analysis, walkaround checks, fleet management, training, licence checking, performance and workshop management, with additional modules currently in development.
Bringing these functions together within one system allows operators to manage their compliance and day-to-day operations through a single, integrated supplier, the firm says.
Steve Fisher, founder of Convey Technology, and the existing management team will continue to lead the business.
“Our focus has always been to develop practical, forward-thinking solutions that genuinely help operators manage their drivers and vehicles with confidence,” said Steve.
“As we enter this next stage, we will continue to invest in Convey and enhance the platform, using the insight we have gained over many years to ensure it continues to meet the needs of our customers and the demands of the wider industry.”
Miguel Sanchez, investment director and private equity lead in the UK at Tresmares, said: “We are thrilled to back Steve and the team to help them move into the next stage of Convey’s growth.
“Steve has demonstrated the ability to grow ahead of the market during the last decade through a clear vision. His industry expertise, leadership and resiliency are key pillars we look for at Tresmares to forge a true partnership,”
Tresmares, backed by Banco Santander, will use its extensive European network to support Convey’s strategic plans, including opportunities that enhance the platform and broaden distribution.
Commenting on the new partnership, Steve Fisher added: “Tresmares’ partnership-led approach gives us the freedom to continue leading the business while benefiting from the experience and network they bring. It is the right kind of support for this stage of our journey, and it strengthens our plans without changing who we are or how we support our customers.”
Tresmares will support Convey with up to £25 million of funding to explore complementary acquisition opportunities that could expand the platform and strengthen the services available to operators.
