Its products offer businesses a comprehensive view of workforce data, with its 4,500-strong client base including firms such as Yearsley Group, British Airways and L’Oréal.
In October 2016 Mitrefinch secured an equity investment of more than £20million from LDC to support its international expansion in addition to committing significant investment to new product development to continue expanding and improving its suite of products.
In April 2018 Mitrefinch celebrated a record month after announcing the launch of its second UK office in Nottingham creating more than 100 local jobs and the acquisition of US-based Advance Systems America (ASA) which sells its time and attendance systems to firms across the USA and has been a partner of Mitrefinch for eight years.
In June 2019 the business announced it has recorded double-digit revenue growth following a year of expansion at home and overseas. Mitrefinch reported a 12 per cent growth in revenue to £16.3million (2017: £14.6million) in the year to November 2018, while EBITDA grew 22 per cent to £5million over the same period (2017: £4.1million). Mitrefinch’s success was bolstered by a year of overseas expansion, with the business now operating across the UK, US, Australia and Canada, and with international sales accounting for 26 per cent of turnover.
Matthew Jenkins, Chief Executive, Mitrefinch
The support we have received from LDC has played a fundamental role in helping us to set our expansion plans in motion and invest in key projects.