Leicester software firm e-bate sold out of administration

Leicestershire-based e-bate has been acquired out of administration by ebate Software Limited, a newly formed company stemming from Evolved Ideas, a provider of bespoke software development, technology consultancy, and staff augmentation services.

e-bate, located in Mountsorrel, was founded in 2018 by entrepreneur Leanne Bonner-Cooke MBE. However, the company entered administration on 21 August 2024. The e-bate platform specialises in helping businesses manage and simplify rebate and promotional incentive schemes. In 2022, the company successfully raised £1.3m through the Midlands Engine Investment Fund, Mercia’s EIS Funds, and angel investors.

Colette Wyatt, CEO of Evolved Ideas and one of the original founders of e-bate Limited, expressed her optimism about the acquisition, stating: “This is an exciting milestone for Evolved Ideas, and for the rebate management industry. In acquiring e-bate Limited, we’ve ensured that the company’s customers will continue to receive a high level of service. And in partnering with Enable, we are bringing about extensive technical capabilities and ensuring firm financial foundations.”

Andrew Butt, founder and CEO of Enable, which is partnering with Evolved Ideas, also commented on the acquisition: “We’ve created this partnership with Evolved Ideas, and indeed have invested financially into its success, in order to add additional value for rebate strategists. Rebate management is undergoing a transformative shift due to advancements in technology, and this is leading companies to work together to drive additional innovation and set new standards for the industry.”

He added: “Enable’s acquisition of Profectus’s Rebate Deal Management arm in 2022 is representative of this, and so is our recent announcement of AI-based analytics for rebates. Followed now with this strategic partnership with Evolved Ideas, we are taking a significant step forward in our mission to enable trusted trading relationships where companies serve customers better together using the best incentive there is — rebates. By combining strengths, we are not just enhancing service delivery but actively shaping the future of the industry.”

According to its latest accounts, e-bate employed 29 people as of March 2024.

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