HgCapital's $9m Investment in Burns to Support Growth Strategy
Burns e-Commerce Solutions has secured $ 9m investment from HgCapital. The firm said that it will apply the new capital to accelerate product and market development. Trevor Bayley, Director of HgCapital, said ‘In spite of very tough market conditions for technology services companies, Burns has been able to adapt and grow. We believe it is now at the forefront of delivering electronic purchase-to-pay capabilities as a managed service. We are committed to the Burns business and plan, and believe that it has strong potential to achieve its forecast growth.’ Clients for Burns’ flagship Business eXchange service include BAA, Office Depot Viking and Balfour Beatty. Business eXchange is a low-cost managed service that enables companies to automate and integrate their entire purchase-to-pay process. Burns’ business model is based on transaction fees related to document volumes.