Dancerace, a Bath-based fintech specialising in software for banks and lenders, has secured investment from Norland Capital.

The company’s software supports invoice financing and asset-based lending products, and the new funding will be used to expand its global reach and develop new products.

Norland Capital has acquired Newable Capital’s majority stake in Dancerace, with the company’s CEO, Elliot Avison, retaining his ownership. Law firm Burges Salmon advised on the deal.

Peter Barrand, managing director at Newable Capital, commented: “We’ve worked closely with Dancerace for a number of years and are incredibly proud of everything we’ve achieved together. We’re grateful to the team at Burges Salmon for guiding us through this complex process with clarity and straightforward advice.”