Norland Capital invests in Dancerace to accelerate innovation, drive expansion and boost business services
In August, we announced a significant new investment from Norland Capital, a software and technology-focused investment firm based in San Francisco, Boston, Sydney and London.
International investment banking firm Alantra advised Dancerace and its majority owner, Newable Capital, on the transaction.
"Norland’s focus on partnering with entrepreneurs, long-term investment horizon, 25+ years of investing in and supporting technology companies and – most importantly – cultural fit made Norland the perfect partner for our next chapter.” said Elliot Avison CEO of Dancerace.
“Our partnership with Norland will enable us to continue to grow our team, expand into new markets and strengthen our market leadership. At the same time, Norland Capital is committed to helping us to continue to invest in improving our services and to accelerate progress on our technology roadmap."
This investment is a testament to the strength of Dancerace’s SaaS solutions, talented employees and the trust of our clients. We’re thrilled to partner with Norland Capital on the next stage of our journey.”
“Through our conversations with Elliot and the Dancerace team, it was obvious that they are incredibly passionate about their company’s culture, employees, clients and building best-in-class software solutions” said Mati Szeszkowski, CEO/Founder of Norland Capital. “Elliot’s passion has been a key ingredient in their success. Dancerace is a clear winner, evidenced by their award-winning SaaS platform, strong customer feedback and market-leading retention. We look forward to partnering with Dancerace through their next chapters of growth.”
As part of the transaction, Norland Capital has acquired 100% of Newable Capital’s majority ownership stake in Dancerace, while Elliot has rolled 100% of his ownership position into the new partnership.
“It has been an honor to have partnered with Dancerace for the past few years,” said Peter Barrand, Managing Director at Newable Capital. “The impact that Elliot has had on Dancerace since taking the CEO seat has been truly impressive, and we’re excited to see the company’s success continue with the support of a partner that is 100% dedicated to growing software and technology businesses.”
About Dancerace
Dancerace is the complete, connected invoice finance and ABL operating system, enabling banks and lenders to operate more efficiently, manage their risk and deliver a better borrower experience, every day. Financial institutions worldwide depend on Dancerace’s cloud-based client, onboarding, risk management and backoffice control systems to deliver a wide range of complex financial products, including loans, invoice discounting, factoring, selective invoice finance (SIF), asset finance, construction finance, trade finance and more.
About Norland Capital
Norland Capital is the right partner for entrepreneur-ledback software and technology companies. We behave differently given our unique 10+ year long-term capital. We can help software companies grow as we have been building and investing in technology companies for over two decades, having made our first software investment in 2000. We have invested in, supported, and helped grow some of the largest and most innovative software companies in the world, including the world’s largest enterprise software buyout ever. We are based in San Francisco, Boston, Sydney and London and invest globally. For more information, visit norlandcapital.com.
About Alantra
Alantra is an independent global mid-market financial services firm providing investment banking, asset management and private capital services to companies, families and investors operating in the mid-market segment. The group has over 600 professionals across Europe, the US, Latin America and Asia. For more information, visit alantra.com.
About Newable
Newable is a leading provider of business services that helps SMEs to thrive by offering a unique blend of money, advice and workspace solutions. With a mission to support the growth and development of UK businesses, Newable delivers tailored solutions to address the challenges faced by entrepreneurs and enterprises at every stage of their journey. Since 1982, Newable has been committed to fostering innovation and promoting sustainable growth across diverse sectors. In 2023, Newable became an employee-owned business with a commitment to ESG. Newable’s expert team leverages extensive industry knowledge and a vast network of partners to deliver exceptional value and drive success for businesses nationwide. Whether through financial support, strategic guidance, or dynamic work environments, Newable is dedicated to enabling businesses to start, grow, and scale with confidence. For more information, visit newable.co.uk.