Stratford upon Avon-based fintech sees major success after relocating to USA
Enable, a fintech startup based in Stratford upon Avon which is developing cloud-based software for business-to-business rebate management, has secured a position on Inc. 5000's list of fastest growing private companies in the United States for 2022. This marks the second consecutive year the company has earned a position on the list.
Last year Enable secured $45 million in a Series B funding round led by Norwest Venture Partners.
The company was born out of the DCS Group, the largest distributor of health, beauty and household products in the UK which is now based in Banbury.
DCS wanted a smart, efficient way to manage its many complex trading agreements with suppliers and customers. But it couldn’t find a single solution that met all its needs so it formed its own software team, and spun it off into a new limited company, Enable to design and build a B2B deal management solution that met its needs.
The software created by its developers created received such good feedback from DCS suppliers and customers that the company decided to expand.
It launched its rebate management product and moved its headquarters to San Francisco in 2016 and has since been growing its client base and product portfolio.
The Inc. 5000 is a prestigious list that features the fastest growing and most innovative private companies in the country. Other former honorees include Intuit, Microsoft, Patagonia and Zillow. The 2022 Inc. 5000 list ranks overall revenue growth over a three-year period. Enable is ranked #900 on the list.
The announcement comes at a time of rapid growth for Enable. The company is on a mission to enable trusted trading relationships throughout the supply chain. Enable’s platform allows companies to better control rebate complexity and to author, agree upon, execute and track the progress of all trading deals in one place. In today’s climate, efficient management of rebate complexity has become a major opportunity for manufacturers, distributors and retailers alike. Forward looking companies like these are using rebates to drive partner behavior. At the same time, they’re rebuilding the loyalty and trust that has eroded due to partners operating in silos.
"We're thrilled to be featured on the Inc. 5000 list for two consecutive years. This is a significant recognition of the work the whole team here has put in," said Andrew Butt, Co-founder and CEO of Enable. "What is remarkable is that we’re transcending our goals each year and we’re on a trajectory to more than double revenue by year end. Along with surpassing other key metrics, we’ve significantly expanded our team from 138 employees in May 2021 to over 300 employees today. We’re committed to continuing our trajectory of sustainable growth, increasing our presence on a global level and ultimately putting a stake in the rebate management category.”
