Microlise, an established provider of transport management software to fleet operators, will today commence trading on AIM having raised £61.2m at the placing price of 135p per share.

The company has a track record of consistent recurring revenue growth, profitability and cash generation, growing recurring revenue by 19.0% in FY20 to £32m. The Group has a diverse customer base, with over 400 enterprise customers including organisations representing 88% of the UK grocery retail market by market share.

Proceeds raised from the oversubscribed fundraising will be used to fund “…the next stage of our development, including expending our international business, and entering new market segments.” (Nadeem Raza, CEO, Microlise)

The video below provides an overview of Microlise’s business, the market opportunity and it’s growth strategy