Fresh funding brings Barclays support to $2.4m

Fresh funding brings Barclays support to $2.4m

Build It BetterOctober 9, 2019

Introduction

A company specialising in cloud-based B2B deal management software has secured an additional $1.8 million funding to assist the future growth of the business with financial support from Barclays.

Top left: Jim Quantrill, Relationship Director, Barclays. Top right: Alex Riordan, Associate Director, Barclays. Bottom left: Andrew Butt, CEO, Enable. Bottom right: Nick Rose, CFO, Enable.

Top left: Jim Quantrill, Relationship Director, Barclays. Top right: Alex Riordan, Associate Director, Barclays. Bottom left: Andrew Butt, CEO, Enable. Bottom right: Nick Rose, CFO, Enable.

Enable International was founded in the UK and North America has now become its fastest growing market. Enable will use the funds to grow its sales, marketing and product teams, with a focus on expanding its presence in San Francisco.

Enable has seen rapid growth in the last 3 years since the launch of its DealTrack product. Designed as a specialist rebate management system, DealTrack helps suppliers, distributors and wholesalers to drive mutually profitable growth, while improving cash flow and reducing risk.

Their customers include leading manufacturers and distributors who depend on their product to plan, execute and track complex trading agreements to drive profitable growth with customers and suppliers. USA customers include Affiliated Distributors, Atco Rubber Products, and Lumbermans Merchandising Corporation. Recent wins in Cananda include Rexel and Wolseley.

Andrew Butt, CEO of Enable, said: “This funding will provide the support needed to execute the rapid expansion plans we have for the business, as we look to bring our DealTrack software to a wider global market.”

Jim Quantrill, Relationship Director at Barclays said: “Enable has seen strong year on year growth. I am delighted we have been able to provide the funding to support the next phase of their expansion.”

Notes to editor

About Enable:

Enable’s DealTrack rebate management system helps suppliers, distributors and wholesalers to drive mutually profitable growth, while improving cash flow and reducing risk. Leading manufacturers and distributors in the UK and North America depend on DealTrack to collaboratively plan, execute and track complex trading agreements involving millions in rebates, discounts, royalties, purchase income and back margins.

For further information about Enable, please visit enable.com.

About Barclays:

Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.

With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 83,500 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.

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