The investment from BGF will allow Twenty7tec to ramp up its product development, enhance its technological infrastructure and explore new market opportunities. The funding will also be used to expand the Twenty7tec team to support its growing customer base. 

As part of the investment, Angela Williams has joined the Twenty7tec board as a non-executive chair, and she has experience in founding, scaling and exiting other tech-focused businesses. She has also held senior roles at British Airways, Centrica plc and Land Securities. 

Williams will support the company in refining and executing its growth strategy. 

The deal was led by Duncan Wade, Cat Dilloway and Harry Kernick, investors in BGF’s Reading team, with Wade also joining the Twenty7tec board. 

According to Companies House, Tony Prestedge and Jeremy Duckworth stepped down from the board as part of the transaction. 

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Wade said: “Twenty7tec’s track record of disrupting the advice technology market, combined with its ability to effectively scale, is testament to the hard work and tenacity of James and his team. 

“With high recurring revenue, low customer churn and a series of exciting opportunities for value creation in front of the team, we’re excited for what this investment will mean for the business. The impressive growth that Twenty7tec has already achieved since start-up 10 years ago has been underpinned by a team who are passionate about delivering the best possible outcome for users of their technology. We are genuinely thrilled to be backing them and have high hopes for the company’s future.” 

 

The Twenty7tec journey is ‘far from complete’

James Tucker (pictured), CEO of Twenty7tec, said since founding the company in 2014, it “consistently strived to revolutionise how financial advisers of all types use technology to deliver exceptional advice to their clients”.

He added: “There are few tech businesses that can be said to operate successfully across the entire advice market, but we have broken that mould. Today, we provide technology to some 16,000 advisers across the country, who in turn look after millions of end clients across mortgages, protection and investments.

“Our journey is far from complete, however; we still see too many advisers suffering from not having access to the right tools to do their jobs, and too many providers unable to access real-time data that helps them understand underlying movements in market dynamics, and adjust their own strategy accordingly. There is much more work to be done.” 

Tucker said: “This investment from BGF allows us to continue to invest further in delivering technology that makes a real difference to all participants in this market. Ultimately, we believe it will enable us to play an increasing role in helping millions of customers continue to receive the right advice for their circumstances – an opportunity that we are excited by, and a responsibility that we take our role in very seriously.

“After an exhaustive search, we have found the perfect investment partner in BGF, who understand our business and the market in which we operate, and are as excited by the opportunities in front of us as we are. With BGF as our partner, we will move quickly to further enhance the talent within our business, invest in our products, and continue to seek opportunities for inorganic growth that are complementary to our existing business. It’s a hugely exciting time for everyone associated with Twenty7tec, and we’re very pleased to have the support of Angela in the role of non-executive chair and look forward to benefitting from her wealth of experience in helping businesses to scale. I’m proud to lead the business into the next stage of its evolution.”