Chevin Fleet Solutions to create 20 new jobs following £1.5 million MEIF boost
Derbyshire-based fleet management software provider has secured a £1.5 million funding boost to develop its cloud-based product and create 20 new skilled jobs.
Nathan Grace Holdings Limited, which trades under the Chevin Fleet Solutions name, secured the loan from the Midlands Engine Investment Fund (“MEIF”) E&SEM Debt Finance fund, managed by Maven Capital Partners (“Maven”).
Chevin Fleet Solutions (“Chevin”), is a provider of fleet management software solutions to customers in both private and public sectors, with offices in the UK, USA, Belgium, France, and Australia. Its flagship fleet management product, ‘FleetWave’, is used in more than 180 countries across multiple sectors to manage around two million vehicles and associated assets.
Chevin has identified a growing demand for SaaS (Software as a Service) and plans to use the funding to support commercial opportunities and target the SME market on a global scale. The company is also planning to create 20 new jobs to aid its expansion.
Chevin’s client list includes Bentley Motors, Carlsberg Global Business Services, Verizon, and United Nations World Food Programme (UNWFP), this year’s winner of the Nobel Peace Prize. The company also recently secured a significant new contract with the US Government.
Ashley Sowerby, Founder and Managing Director of Chevin Fleet Solutions, said:
“We are delighted to have secured the MEIF funding and, in turn, the opportunity to expand our business horizons. This level of financial backing will allow us to strengthen our product range, broaden our client base, and enhance global opportunity. It will further define our footprint in fleet management.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.