Spence & Partners’ Parent Company Announces Investment from Growth Investor Synova

by Brian Spence   •  
Press Release

I am delighted to confirm that 3173 Limited today announces an investment from Synova into its business.

The group’s businesses include Spence & Partners a specialist outsourcer and consultancy, Dalriada Trustees, the UK’s leading professional trustee firm, and Mantle a unique software as a service platform.

Spence has developed a boutique service to pension schemes, based around the Mantle platform which allows us to create a step change in the service to pension scheme members and embrace the opportunities arising from the UK’s new pensions dashboard requirements, and again we expect to use the investment to support the high demand we are seeing for our best-in-class services.

Mantle is a unique software as a service platform that combines pension scheme administration and actuarial functionality in a way that is unique in the world.  Mantle benefitted tremendously from the early-stage R&D support we received from Invest Northern Ireland.  The additional investment from Synova will allow us to scale up more quickly in the UK market and expand internationally.

To support the next phase of growth for our business we undertook a thorough evaluation of a wide range of funding options before choosing Synova as our partner. We are really excited to be partnering with them and looking forward to our future growth together.

David Menton, Managing Partner of Synova commented “We are delighted to be partnering with Brian and the rest of the team at 3173 to support the growth of the company.  Investing in fast-growing, founder-owned businesses with a unique technology proposition is central to Synova’s investment philosophy.  We look forward to the next exciting phase of their growth.”

The deal is subject to FCA clearance, we expect to receive this in the coming months.

You can find out more about Synova here www.synova.pe and here on LinkedIn and you can read the 3173 Limited press release here.

Brian Spence Founder

3173 Limited

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